BofA notes that Roku (ROKU) disclosed on Friday that it has $487M of uninsured deposits at Silicon Valley Bank (SIVB), which represents 26% of Roku’s total cash and cash equivalents of $1.9B as of March 10. This disclosure came before Treasury Secretary Janet Yellen instructed the FDIC to guarantee SVB customers will have access to all of their money, insured and uninsured, starting Monday, which the firm says is "good news for Roku." BofA reiterates a Buy rating on Roku as it sees advertising trends improving as the macroeconomy recovers and sees Roku benefitting from international expansion.
Published first on TheFly
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