Hey everybody, Dave Bartosiak with Trending Stocks at Zacks.com. Back in the day, when you used to be able to make money in the stock market, one of the hottest stocks out there was Roblox RBLX. It’s online entertainment platform is the sort of thing that captivates the minds and hearts of kids all over the world. The growth numbers were eye-popping, the engagement was astronomical, and the stock was going parabolic. All good things come to an end, and Roblox, which went from the $70s to $140 in one month, came crashing back down to Earth.
A couple of disappointing earnings results saw the stock tumble to the $20s in May of this year. Today, there is renewed interest in this online juggernaut after the company reported a jump in daily active users of 23% year-over-year. Hours engaged were 4 billion, up 16% year-over-year. Does this new data mean it’s time the load the boat on Roblox? Let’s take a look at Zacks.com and check out what the analysts and the data have to say.
In this video, we’ll check out not only Roblox but other stocks in the Gaming industry which ranks in the Top 30% of our Zacks Industry Rank. These stocks include Zacks Rank #1 (Strong Buy) PLAYSTUDIOS MYPS and Zacks Rank #2 (Buy) Double Down Interactive DDI.
Every time you share this video, parents get five minutes of peace and quiet after getting one of their rugrats to pay attention to Roblox. Subscribe to the YouTube channel. Twitter @bartosiastics. Check out Zacks.com/promo for this week’s deal on the Home Study Course.
For everybody here at Zacks, I’m Dave Bartosiak and I’ll see you next week.
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Roblox Corporation (RBLX): Free Stock Analysis Report
PLAYSTUDIOS, Inc. (MYPS): Free Stock Analysis Report
DoubleDown Interactive Co., Ltd. Sponsored ADR (DDI): Free Stock Analysis Report
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