HomeFinancial MarketsRoblox Stock Continues to Surge, Up 35% Over the Last Month

Roblox Stock Continues to Surge, Up 35% Over the Last Month

Investors are taking a keen interest in Roblox Corp., makers of the Roblox online game platform and game creation system, once again. After a steady downfall earlier in the year, the Roblox stock (RBLX) has surged in recent weeks and is now up 35% over the last month.

RBLX peaked at $134.72 late in 2021 before tumbling down to $23.19 in May. But the stock then started gradually climbing in mid-June and is now at $41.25. This is the highest Roblox shares have been since April.

The reason why investors initially moved away from Roblox is the slower-than-expected growth of their platform. The users have been engaging in other activities as the pandemic slowed down and are no longer as committed as they were before.

In February, Roblox saw 55.1 million daily active users, which represented a growth of 28% year over year. In May, that number dropped to 50.4 million and only 17% up year over year.

However, experts believe that Roblox weathered the challenging times and is now headed to recovery. Their business isn’t expected to take a hit in case of a recession due to low membership prices. Also, the company has a lot of wiggle room when it comes to monetizing its platform and using the advertisement opportunities. 

Marriott Projects Revenue Growth Amid Resilient Travel Demand

Marriott International forecasted on Wednesday that 3% to 6% growth in its annualized global revenue per available room for the two years ending 2025 as the...

Dollar and Stocks Steady as Bonds Ease From Record Highs

The U.S. dollar and stocks in New York stabilized on Wednesday, while U.S. Treasury Yields retreated from their 16-year high, easing pressure on the...

New Home Sales Plummet in August

Sales of new U.S. single-family homes plunged in August as the 30-year mortgage rate rose past 7%, thereby discouraging would-be buyers. According to data...