ROKU short idea
Momentum in ROKU is dying out. With the lockup expiration coming in a month, shorts can enter against a failed breakout area and cover into the lockup seller liquidity. Chances of being squeezed are low since the longs are probably less confident after the earnings reaction and don't want to take all of that liquidity. $30 seems like a good mental target and was also the area where the stock started to explode, so longs and shorts will probably look to start buying there. If streaming growth keeps slowing, ROKU could trade back to the $25 area after next earnings (area it was trading in before streaming growth became the main story).
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