Why Is Walmart Pushing Roku Stock Higher After Hours?

Roku Inc ROKU shares are trading higher in Thursday's after-hours session after the company announced a partnership with Walmart Inc WMT.

Roku and Walmart announced a first-of-its-kind partnership to make TV streaming the next e-commerce shopping destination. Walmart will be the exclusive retailer to enable streamers to purchase featured products fulfilled by Walmart directly on Roku.

"We're working to connect with customers where they are already spending time, shortening the distance from discovery and inspiration to purchase," said William White, chief marketing officer of Walmart. 

Roku's ad-buying platform for TV streaming, OneView, will have the exclusive capability to activate and measure these shoppable ads. Additionally, marketers will be able to use Roku Brand Studio to design custom creative and branded content built for TV streaming and shopping.

ROKU Price Action: Roku has traded between $490.76 and $72.63 over a 52-week period.

The stock was up 4.48% in after hours at $82.10 at press time, according to data from Benzinga Pro.

Photo: courtesy of Roku.