Why Did Roku Shares Gain Today?

Sharp Corp SHCAY will sell smart televisions equipped with Roku Inc ROKU streaming abilities in the U.S. from spring 2022, returning to the American consumer TV market after a six-year hiatus, Nikkei Asia reports.
As per 2020 data, Samsung Electronics Co Ltd SSNLF leads the U.S. market with a 37% share by value, while LG Electronics Inc LGEIY LGEJY ranks second at 15%, followed by China's TCL at 9.7%.
Sharp aims to launch liquid crystal display TVs of 50 inch - 75- inch with superhigh-definition 4K display.
Sharp will manufacture the sets at a Mexican plant run by Taiwanese parent Foxconn Technology Co Ltd FXCOF.
The TVs will sell with Roku's proprietary software installed under a partnership between the companies. The platform lets viewers watch shows on Netflix Inc NFLX, Hulu, and other streaming services.
Brief Background: In 2016, Sharp stopped selling TVs directly in the Americas by reaching a brand licensing agreement with Chinese home electronics maker Hisense. Foxconn took ever Sharp in August 2016. In 2017, Sharp prosecuted Hisense in a U.S. court for allegedly damaging its brand. The parties mutually agreed to drop the case in 2018 and settle in 2019.
Price Action: ROKU shares closed higher by 6.19% at $344.46 on Monday.