Roku stock price on 12/28/2022Roku stock has dropped from $492.25 to $39.23. Given asset managers like Cathie Wood were suggesting Roku at $490 was still good value, it would be easy to assume Roku makes for a good buy right now. However, most asset managers I listen to still think Roku isn’t a good buy yet in this environment.

Roku’s market cap (5.60 billion) is still so high that the stock doesn’t have a listed P/E ratio or even a forward P/E ratio, meaning the ratios are still very high. On a positive note, Roku’s debt to equity and long-term debt to equity are both in the green.

Roku has an RSI of 25.74, signaling it could be oversold in the short term. But as mentioned, I wouldn’t necessarily assume this is the bottom for Roku stock if the Fed keeps raising rates into 2023.

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