Why did Roku stock pop up today? Takeover speculation
Justin Sullivan


Roku (NASDAQ:ROKU) climbed 8% on Thursday after the TV streamer amended its severance benefit plan, in the event of a change in control, according to an 8-K filing late Wednesday.
ROKU gained as some investors believe that the new change-in-control language may mean that a takeover offer may be coming.

Dealreporter highlighted the new language in an item, though it did point out that any possible takeover offer would be hard given Roku's (ROKU) many defenses. ROKU founder and CEO Anthony Wood control 59% of the voting power held through Class B shares.
Roku (ROKU) didn't respond to Seeking Alpha's request for comment on the 8-K filing.
The speculation comes after an early June report that Roku (ROKU) had "abruptly" closed a trading window for employees and talk of acquisition by Netflix (NFLX) swirling inside the streaming company.

ROKU short interest is 9.1%.