Is Now the Perfect Time to Buy Roblox Stock?
During the recent bear market, tech stocks have taken the biggest beating. High-growth, unprofitable businesses have fallen out of the market's favor, and investors are paying the price. However, as the saying goes, it sometimes pays to be greedy when others are fearful.
Gaming platform company Roblox (NYSE: RBLX) is an exciting stock to look at right now. It's in an industry with undeniable tailwinds and has a product that millions of children enjoy daily. Despite being down 71% from its late 2022 high, the business performance over the past year has me thinking now might be the best time to pick up shares. Let's dig in to see why.
When Roblox came public in early 2021, one of the biggest questions surrounding the business was how sticky the platform would be as its users get older. In Q1 of 2021, only 49% of hours engaged on the platform were by users over the age of 13. Fast-forward to Q1 of 2023, and that cohort now accounts for 56% of hours engaged.
Source Fool.com
