Roku Stock Gains 7% on Report Employees are Discussing Acquisition by Netflix
2022.06.08 14:31
Roku Stock Gains 7% on Report Employees are Discussing Acquisition by Netflix
By Senad Karaahmetovic
Roku (NASDAQ:ROKU) employees are discussing the possibility of being acquired by Netflix (NASDAQ:NFLX), Business Insider reports.
Shares of Roku surged over 7% in pre-open Wednesday on the report.
The discussion comes after Roku shares dropped roughly 80% in the past 12 months. The report notes that Roku has increased equity grants to employees to stop them from leaving to competition while shares are plunging to fresh lows.
The management is aware of the chatter and has “abruptly closed the trading window for all employees,” according to the report. This way, the employees are stopped from selling any of their vested stock.
Both Netflix and Roku spokespeople declined to comment to Insider.
