Time to Buy Roku Stock on the Dip After Streaming TV Competition Selloff?

Roku ROKU shares have plummeted roughly 30% since September 17 after Wall Street and investors fled the stock after Comcast CMCSA and Facebook FB made headlines in the streaming TV device market. Despite the selloff, shares of Roku are still up 250% in 2019. Therefore, it’s time to see if investors should think about buying Roku stock on the dip, or if they should stay away from the streaming TV firm? Comcast last Wednesday announced that it would give its new streaming TV player device, Xfinity Flex, to its internet user for free. The cable and internet giant had charged users $5 a month to rent the small piece of hardware that allows users to watch streaming services such as Netflix NFLX and HBO T all in one place, similar to Roku and others. The move is part of Comcast’s growing streaming TV push as more users dump cable. This will also see the company’s NBC Universal unit launch its own streaming TV service, Peacock, in April 2020. Meanwhile, Facebook introduced Portal TV, as part of its in-home smart product push alongside Google GOOGL and others.