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Roku Takes Out $70M Morgan Stanley Credit Line

(Image credit: Roku)

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.