Over the last few weeks, shares of Roku (ROKU) plummeted from about $95 to $63.58.

All thanks to its forecast.

The good news for ROKU is that it did reach 80 million active accounts – an increase of 14% year over year. Also, while it did record a loss of $78.3 million, that was far better than the net loss of $237.1 million posted a year earlier. Unfortunately, it did guide gross profits of $370 million for the first quarter, which was below expectations for $373.4 million.

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However, with a good deal of negativity priced into the ROKU stock, a bottom may be in. Helping, director Jeffrey Blackburn paid $511,680 for 8,000 shares at an average price of $63.96 on March 13. Also, it appears Cathie Wood’s ARK Invest has been buying ROKU as well.

On Feb. 27, ARK bought 169,000 shares. On March 4, it bought another 177,000 shares. And on March 5, it bought 150,000 shares.

Sincerely,

Ian Cooper