Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the past two years. But there is no question some big-name stocks performed better than others since the pandemic bottom.
Roku's Bumpy Ride: One company that has been a disappointing investment in the past two years has been video streaming giant Roku Inc (NASDAQ:ROKU).
Fortunately for Roku investors, the COVID-19 pandemic in 2020 was actually very good for Roku’s business. While other companies were dealing with economic shutdowns, people around the world who were sheltering in place had little to do for entertainment other than stream movies and TV shows.
At the beginning of 2020, Roku shares were trading at around $136. By the beginning of March, the stock was down to $115, after news of the coronavirus spreading in China prompted concerns about a U.S. pandemic.
Roku bottomed at $58.22 during the pandemic-driven March sell-off. Fortunately for Roku investors, the dip did not last long.
By September, Roku shares were back at new all-time highs above $170 and the rally was just getting started.
Related Link: If You Invested $1,000 In Netflix Stock At Its Pandemic Low, Here's How Much You'd Have Now
Roku In 2022, Beyond: The stock ultimately peaked at $490.76 in July 2021 before pulling all the way back to $116.89 today.
Still, investors who bought Roku on the day it hit its pandemic low and held on have generated a nice return on their investment. In fact, $1,000 in Roku stock bought on March 17, 2020, would be worth about $1,834 today.
Looking ahead, analysts are expecting Roku stock to rebound in the next 12 months. The average price target among the 24 analysts covering the stock is $180, suggesting 53.5% upside from current levels.
Photo: Courtesy of Diverse Stock Photos on Flickr
