Roku plunges after Best Buy and Amazon partner to sell smart TVs

Shares of streaming device maker Roku were previously on a tear this week. The company announced on Monday its media streaming device would offer access to ESPN+, allowing users to stream Disney‘s sports content for $4.99 per month or $49.99 per year. Shares continued climbing Tuesday, after Steven Cohen’s Point72 Asset Management took a 5.1 percent passive stake in the company.

Wednesday’s losses virtually wiped out Roku’s recent gains. Shares of Roku are down 36 percent this year.

–The Associated Press contributed to this report.

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