Roblox was further propelled upwards by excitement over the company's future initiatives after the Roblox Investor Day on November 16.Īfter such a massive move, that now has the stock back to trading at 40 times sales, investors might be wondering whether or not to chase the stock higher after such a huge move in a short period of time.ĭata by YCharts Reasons Why Roblox is Still a Buy The stock essentially stagnated by bouncing around between $70 and $90 until November 9th when the stock shot up 42% after reporting very strong Q3 earnings. However, on June 15, Roblox released its May 2021 Key Metrics and the stock dropped 8% because of the perception that growth was slowing.
The stock traded as high as $103.87 intraday in early June because of investor excitement over the possibility that Roblox could evolve into one of the first Metaverse companies. Roblox ( NYSE: RBLX) came public on March 10 of this year at an initial IPO price of $64.25, while ending the day up $5 at 69.50.
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