Why Roblox Stock Jumped 28% This Week
Roblox (NYSE: RBLX) shareholders trounced the market this week as the stock gained 28% through Thursday trading compared to a 3.3% surge in the S&P 500, according to data provided by S&P Global Market Intelligence. The move only erased a small portion of recent losses for the digital entertainment platform, though. It remains lower by nearly 70% so far in 2022.
The rally occurred as some investors saw a bargain in the stock, which is valued near an all-time low.
Roblox hasn't made any official business announcements since its mid-June monthly sales snapshot. That release showed that the platform is still attracting more engagement and a higher volume of users. But spending by those users is falling sharply. Roblox is also losing users on a quarter-to-quarter basis.
Source Fool.com
