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00:00 Speaker A
I’m going to start off here with Roku. That stock getting an upgrade over at Jeffries to a buy Brooke. Uh they see upside to consensus estimates on platform revenues next year. Wedbush I saw also boosted its target on that stock, citing growth opportunities.
00:19 Brooke
Yeah, and what we’re seeing this morning was a a bit of a pop and now a bit of a a pullback. The stock up about 6/10 of a percent as we make our way into the close this afternoon. But keep in mind, year to date, the stock has been seen quite the run. It’s up more than 40% compared to the S&P 500, which is trading around 16 to 17% gain year to date and so definitely ahead of that benchmark index. And what has the street excited about a few opportunities in the pipeline for Roku. Wedbush saying in that note that they expect Roku to continue to gain market share as ad dollars migrate from linear to connected TV. Also, keep in mind, 2026 is a mid election, uh mid-term election year, and so definitely more opportunities for ads there. Also, Jeffrey is upgrading its price target as well to $135 from $100. That company also citing advertising ramp up spending and subscriptions expansion also being opportunities for Roku to really gain momentum. And keep in mind, the company’s also working with companies like Walmart and Amazon to really increase its direct e-commerce opportunity. And you also might have seen those scan those QR codes and so that’s certainly benefiting the business too.
01:32 Speaker A
All right, now looking at Robin Hood as well. Those shares under pressure. The company reporting a decline in trading volumes for November. So this one, okay, so they report that it’s November trading volumes just see a month over month decline due to equity and crypto trading. We should point out, yes, I mean, listen, the stock’s taken a hit today, but you pull back the chart, this one’s still up 230% this year.
02:00 Brooke
Yeah, 230% on the year, 227% compared to this time last year. So quite a run-up that this company has had. And if you take a look though today, what is weighing on investors, perhaps we’re seeing some some profit taking here and that’s because they got this report out saying that in the month of uh November compared to October, they had trading volumes that were down about 37% month over month. Option contracts traded were down about 28% month over month. Also crypto, something we’ve been covering a lot. It did not have a good past few months. and so crypto uh trading volumes were down about 12%. But worth noting here and something that did do well for them was that prediction market model that they just got in. Event contracts trading were up about 20% from October to November. And so prediction markets seem like the next big wave here.
02:51 Speaker A
Yeah impressively even after this move, analysts are still overwhelmingly bullish. Nearly 80% still telling clients this one’s a buy here. All right, finally switching gears to Rivian, the EV maker revealing its own uh AI chip. Uh so developing its own AI chip Brooke replaces Nvidia per reports will equip its R2 vehicle with this processor. TSMC will make the chip. CEO telling reporters, we improved performance dramatically and simultaneously lowered costs by hundreds of dollars per vehicle.
03:25 Brooke
Yeah, and yet you still see the share price now, perhaps as part of the AI sell off we’re seeing today, perhaps a little more about a Morgan Stanley note that we got earlier this this week. Morgan Stanley analysts did downgrade Rivian earlier this week to underweight from equal weight. They noted that Morgan Stanley’s leaning more cautious into next year, saying the electric vehicle, quote unquote, winter will sustain through 2026. And they went on to say that perhaps, you know, more uh moderately more positive outlook on internal combustion engines, so just, you know, typical cars as opposed to EV vehicles. But definitely we’re seeing this pullback. Rivian though has had quite an interesting, you know, time trying to tread this market lately. Of course, they had partnered with Mobileye last year, they then had shifted that strategy to in-house. And so really Rivian trying to get ahead of this market, but you take a look year to date, the stock’s still up about 25%.
04:22 Speaker A
All right. Thank you, Brooke. Appreciate it.