![]() Since its public debut in early 2017, the cloud-based identity management and authentication service rode the changing cybersecurity landscape to gains of as much as 1,616%, driven by revenue that climbed 454%. Users are the first line of defense, a fact that Okta ( OKTA -0.69%) knows all too well. Headlines in recent years make it abundantly clear that preventing large-scale security breaches is no longer a luxury. Investors (myself included) are increasingly optimistic that Roku will prosper, which has sent its stock up 53% so far this year. History shows that when the economy recovers, marketing is quick to follow, which suggests Roku's recovery is only a matter of time. It's well documented that marketers slash ad spending during periods of economic uncertainty, which is playing out with all the high-profile digital advertisers. ![]() Many of these viewers will no doubt turn to streaming video for their in-home entertainment needs, helping fuel Roku's rebound.įurthermore, Roku generates the vast majority of revenue from the digital advertising that appears on its platform. This new figure even exceeded the record-setting defections that occurred in 2020. In fact, in 2022, the major pay-TV providers lost 5.9 million cable subscribers, according to information provided by Leichtman Research Group. Audiences continue to ditch cable in record numbers and the trend shows no signs of slowing. Powerful secular tailwinds will carry Roku to new heights once the economy finds its footing. But there's light at the end of the tunnel. ![]() Unfortunately, that didn't protect Roku from the ensuing economic headwinds, slowing growth, and supply chain challenges, which sent the stock crashing down, currently 87% off its peak. Since the company's initial public offering in late 2017, the stock had risen as much as 3,325%, fueled by revenue growth of 547%, making it a rock star among growth stocks. Roku ( ROKU -1.43%) rose from obscurity to quickly become the world's most popular streaming platform.
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