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Roku jumps another 20 percent the day after its IPO

Key Points
  • Shares closed nearly 70 percent up Thursday at $23.50.
  • The price continues to rise Friday, surpassing $29 before 10 a.m.
The Roku IPO at the Nasdaq, September 28, 2017.
Source: Nasdaq

Roku is still riding high after a monster first day of trading, up another 20 percent to $28.30 in morning trading Friday.

The company debuted on the Nasdaq on Thursday under the ticker symbol ROKU and jumped nearly 70 percent by the end of trading that day.

The stock closed at $23.50 Thursday, giving the IPO a valuation in heavyweight territory.

Roku holds a unique position in the otherwise crowded content-streaming sector. The company attracts users across several streaming services such as Netflix, Amazon, HBO and Hulu, establishing the platform as a prime opportunity for advertisers to reach a large audience on over 5,000 channels.

CNBC's Ari Levy contributed to this report.