Roku shares have given up their earlier gains, trading roughly one percent down Thursday, a day after an earnings beat revealed strong ad revenue.
Shares were trading as much as 7 percent higher in the morning. The streaming company saw its highest open in nearly two months.
By midday shares had fallen below $36.
On Wednesday, Roku reported a smaller-than-expected loss in the first quarter and posted higher revenue from its streaming platform than from the sale of its physical devices — indicating the company's advertising push is so far paying off.
The stock has seen a number of big moves since hitting the public markets last year. The company's single best day came in November after its first-ever earnings report, when shares rose nearly 55 percent.
Roku jumped nearly 9 percent Wednesday in anticipation of the first quarter report, but the stock was still down 30 percent on the year.
