Shares closed at $35.46, after opening above $38 — the streaming company's highest open in nearly two months.
Shares traded as much as 7 percent up at their peak Thursday.
On Wednesday, Roku reported a smaller-than-expected loss in the first quarter and posted higher revenue from its streaming platform than from the sale of its physical devices — indicating the company's advertising push is so far paying off.
The stock has seen a number of big moves since hitting the public markets last year. The company's single best day came in November after its first-ever earnings report, when shares rose nearly 55 percent.
As of Thursday's close, Roku is down more than 30 percent on the year.