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Roku downgraded by Oppenheimer after parabolic surge makes it the ‘most expensive’ internet stock

“Investors should take profits after Roku shares more than doubled in three days, according to one Wall Street firm” writes Brendan Mcdermid for Oppenheimer on Tuesday lowered its rating to underperform from perform for Roku shares, citing the company’s excessive valuation.The roller coaster ride continued as the company’s stock rose more than 120 percent in the three trading days after it reported better-than-expected earnings Wednesday.”In our view, the stock is trading on non-fundamental factors, driven by a limited float … and high short interest.”.

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