Roblox Just Gave Investors Another Fantastic Reason to Buy the Stock
Roblox (NYSE: RBLX) entered the final quarter of 2023 with three catalysts that could send the stock higher. One of those was the recent launch on 's PlayStation console. But another catalyst is also starting to come to fruition: better control of operating expenses.
While revenue and daily active users continued to grow at high rates in the third quarter, cost discipline is starting to boost the company's bottom line. The stock is up 29% in the last month. Here's why market sentiment for the stock could set up a bull run next year and beyond.
Roblox is a very popular platform, with daily active users growing to over 70 million in the quarter. But it has struggled to convert its revenue into profit, and the stock is down over 80% from its 2021 highs.
Source Fool.com
