What's Going On With Roku Stock?

Roku Inc ROKU shares are trading higher on above-average volume Wednesday amid volatility in growth stocks as the Russell 2000 nears three-month highs. Rosenblatt also released a new note on the stock Wednesday morning.

Analyst Take: Rosenblatt analyst Barton Crockett reiterated Roku with a Neutral rating and announced a price target of $61. 

Rosenblatt's Age Of AI conference kicked off on Wednesday and Roku's outgoing CFO Steve Louden is set to speak at the conference on Thursday. The analyst firm plans to ask about the role of AI at Roku, now and in the future. 

Rosenblatt also laid out plans to discuss the streaming market, revenue trends, guidance, market share, audience growth and Roku's TV ambitions.

Roku has an average session volume of just under 7.5 million over a 100-day period. Wednesday's trading volume has already exceeded 18 million at publication time. 

Also of note, Roku has relatively high short interest with 11.39% of the float currently sold short, per Benzinga Pro.

See Also: What's Going On With Netflix Stock Today?

ROKU Price Action: Roku shares were up 9.88% at $69.24 at the time of writing.

Photo: courtesy of Roku.