Roku has a secured a $69.6 million line of credit from Morgan Stanley, according to an SEC filing posted by Seeking Alpha.
What’s the money the for? Unclear to us. But we’ll lay out some possibly related facts.
The move comes a week after Fox Corp. unloaded its 5% stake in Roku, around 6 million shares, to Morgan Stanley. That decision was tied to Fox’s $440 million purchase of AVOD platform Tubi.
And notably, it was Morgan Stanley’s downgrading of Roku stock back in December that sent shares tumbling nearly 16%.
Roku shares are currently trading at around $92 on the Nasdaq, as of midday trading Thursday. That’s up around 45% from when they bottomed out on March 18 with the rest of the market.
Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!
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