Roku IPO: Shares jump 68 percent as investors bet firm can fend off rivals
by By David Pierson and David Ng, Los Angeles Times
Sep 28, 2017
4 minutes
Investors brushed aside concerns about Roku's stiff competition in the video streaming business, sending the company's shares up 68 percent on its stock market debut Thursday.
Roku stock closed at $23.50 after pricing its 18 million shares at $14 apiece, which was at the high end of its expected range.
The enthusiastic response to Roku's $252-million initial public offering comes despite concerns the Los Gatos, Calif., company is up against the world's biggest technology giants, namely Amazon, Apple and Google.
All three of them offer streaming video boxes featuring the most popular apps, such as Netflix and Hulu, to the growing number of cord cutters .
Moreover, Amazon and Google
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