Sometimes markets go up and come down presenting investors with an opportunity to buy on the dip. Currently, the US stock market is experiencing considerable selloff of some of 2020’s best-performing stocks. If you have some $5,000 lying somewhere, you can consider putting the money in Roblox Corporation (NYSE: RBLX). The stock went public at $64.25, and it has since hit lows and highs.
A month ago, the stock closed at $82.05, but it has since fallen out of favor like most fast-growing tech stocks. Roblox gave back some of the gains before bouncing back on exceptional earnings. Today the shares are 13.5% down from the April 13 highs, and the stock is around 10% above the opening IPO price. In Q1, the company reported 140% growth in revenue hitting, $387 million and booking around $652 million in Robux.
Robux can transom Roblox’s revenue in the coming quarters suggesting sales are growing at the gaming platform. It seems Roblox sales are accelerating with significant growth, and in the coming quarters, this is a stock to watch
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.