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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Roku stock downgraded by KeyBanc to Sector weight

Yahoo Finance Video

Yahoo Finance's Akiko Fujita discusses why Roku stock has reversed its gains on Tuesday.

Video Transcript

[AUDIO LOGO]

- Well, let's take a look at one of our trending tickers. Shares of Roku seeing a bit of a reversal here. We saw it down significantly earlier today on another downgrade from Wall Street, as investors continue to fret over profitability concerns. But you see it's now up about 8/10 of a percent. The latest coming from KeyBanc analyst and longtime bull, Justin Patterson, who downgraded the stock from overweight to sector weight, noting that Roku is ceding market share.

And in his words, "greater tech debt in its adtech stack than previously thought." Now he added that Roku offers limited upside, given lower revenue and EBITDA growth. The declines today come just a week after Roku announced it would lay off 200 employees to cut costs. Five Wall Street firms have downgraded Roku stock in the last month.