The federal government has stepped in to protect SVB depositors, and Roku Inc. shares were turning higher Monday after initially registering declines.
The federal government has stepped in to protect Silicon Valley Bank depositors, and Roku Inc. shares were turning higher Monday after initially registering declines.
The streaming-media company disclosed Friday afternoon that it held about 26% of its cash and equivalents at SVB, noting at the time that it didn’t know “to what extent” it would be able to recover those deposits. Since then, the U.S. Treasury, Federal Reserve and Federal Deposit Insurance Corp. have announced measures so that depositors will be able to get all... The federal government has stepped in to protect Silicon Valley Bank depositors, and Roku Inc.
The streaming-media company disclosed Friday afternoon that it held about 26% of its cash and equivalents at SVB, noting at the time that it didn’t know “to what extent” it would be able to recover those deposits. Since then, the U.S. Treasury, Federal Reserve and Federal Deposit Insurance Corp. have announced measures so that depositors will be able to get all of their money back.Roku’s stock ROKU was off 9.
She added that the pandemic gave investors “a glimpse of the significant leverage Roku has in its model,” and now the company is back to pushing international expansion. Roku shares have rallied 44% so far this year after falling 44% over the course of 2022. The S&P 500 index SPX is near flat on a year-to-date basis.
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