Shares of Roblox (NYSE: RBLX) are down nearly 60% since the stock started trading in 2021. Several factors are to blame, including slowing revenue growth amid macroeconomic headwinds and growing operating expenses hurting the company's profits. 

The stock rebounded through the first half of this year, but it has pulled back recently, falling 30% since the beginning of August. The pullback in shares followed the release of the company's second-quarter earnings report, which showed a $283 million loss on $681 million of revenue.

Still, Roblox is demonstrating solid momentum with bookings in the quarter up 22% year over year. There are three catalysts heading into 2024 that I believe make the stock worth buying on the dip.

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Source Fool.com