Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

1 Growth Stock Down 70% to Buy Right Now

TheMotleyFool

0 0

1 Growth Stock Down 70% to Buy Right Now: https://g.foolcdn.com/editorial/images/783240/celebrating-in-a-shower-of-cash.jpg

Roblox (NYSE: RBLX) went public via a direct listing on March 10, 2021, and its stock opened at $64.50. Investors were initially impressed by the gaming platform's rapid growth, and its stock hit an all-time high of $134.72 on Nov. 19, 2021.

However, Roblox's stock now trades more than 70% lower at about $38 a share. It lost its luster as it faced tough year-over-year comparisons against its growth spurt during the pandemic, and rising interest rates further compressed its valuations. That was a steep drawdown, but it might represent a good buying opportunity for patient investors.

Image source: Getty Images.

Source Fool.com

Like: 0

RBLX

Share