Shares of Roku Inc. surged 12% in active premarket trade Friday, putting the streaming device company to add over $1 billion in market capitalization in just its second day as a public company. The stock closed at $23.50 on Thursday, which was $9.50, or 68%, above its initial public offering price of $14. With 94.75 million shares outstanding and the stock trading at $26.40 ahead of the open, the $12.40 rise off the IPO price would add $1.17 billion in market cap to the company, nearly double the pre-IPO valuation of $1.33 billion. Trading volume topped 1 million shares more than an hour before the open.
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