Roku Stock: Investing in the Leading OS for Smart TVs

We could blame the current market downturn, especially in tech stocks, on a lot of things. SPACs. Russia’s invasion of Ukraine. The Rona and supply chain issues. Inflation. But we prefer to make Lenin-look-alike Jim Cramer our scapegoat. The list of controversies surrounding this former hedge fund manager makes up the bulk of his Wikipedia entry. About a decade ago, Cramer famously gave us FAANG, an acronym that refers to the five biggest tech companies in the world (now deFAANGed as MAMAA by Cramer). Ever since, investors have had a somewhat unhealthy obsession with this pantheon of corporate tech gods. This unholy obeisance has surely helped unbalance the stock market, as these five stocks accounted for nearly 20% of the value of the S&P 500 at one point. Even as recently as mid-2022, they represented about 15% of the total value.

The “N” is (was?) for Netflix (NFLX). In case you haven’t been paying attention because you have better things to do than stream Season 3 of “Too Hot to Handle” – like generate alpha – the OG of streaming services hit the skids this year. The stock is down more than 60% year to date after reporting “significant” losses in subscriptions. We use the quotation marks because the drop in subscribers amounted to about 0.5%. In addition, the company has still generated more than $3 billion in earnings on more than nearl