ROKU; Bearish on Technicals + Market Opportunity

ROKU continues to perform poorly and the added selling in the broader markets are helping with this short bias in direction. With key price levels like 40 and 38 broken, this security looks like it wants to go lower.

Note: this security has a high short interest (assuming other funds are bearish on this stock as well) and so it may be sensitive to moves to the upside due to short squeezes.

Beyond technicals, ROKU is competing with major enterprises like Apple, Samsung, Amazon, etc for market share in the media space. It's just too competitive for this 3.4 billion dollar market cap company to with declining earnings to dominate.

I don't see this company thriving unless they shift their business model to more software and less hardware. And of course, they would also need to dominate the platform/software space.