It seemed like all anyone could talk about in late 2021 was the metaverse. Investors wanted anything they could do with the concept, defined generally as an interconnected virtual world, as many prognosticators said it was the future of the internet. Facebook even changed its name to Meta Platforms to highlight its focus on this trend.
Perhaps no company exemplifies what people mean by the metaverse more than Roblox (NYSE: RBLX), a virtual platform where people can play games, interact with friends, and explore different worlds. In late 2021, investors bid up shares of the stock, which at one point soared more than 200% from its direct-listing price. However, with waning excitement over the potential of the metaverse and a sharp bear market in technology stocks, Roblox stock has fallen severely from its all-time high.
Down 70% just this year, is Roblox stock a buy right now? Let's investigate.
Source Fool.com