Streaming platform Roku Inc. ROKU on Friday said it “does not know” to what extent it would be able to recover the cash it has deposited with the recently-failed Silicon Valley Bank. Roku said it had cash and cash equivalents of around $1.9 billion as of Friday, with around $487 million — or roughly 26% — at the bank. Roku said its deposits with SVB were “largely uninsured.” Shares fell 3.7% after hours.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.