Why Roblox Stock Skyrocketed Today
Shares of Roblox (NYSE: RBLX) soared on Monday after the popular video game development company reported encouraging growth metrics for September. As of 1:35 p.m. ET, Roblox's stock price was up more than 22%.
Roblox's daily active users (DAUs) jumped 23% year over year to 57.8 million. Importantly, users also increased their level of interaction with the immersive digital entertainment platform. Hours engaged rose 16% to 4 billion.
"We are driving record levels of users and engagement globally as we execute on our innovation roadmap and broaden the appeal of Roblox across geographies and age groups," CEO David Baszucki said in the company's second-quarter earnings release in August. "We continue to make progress on key operational and product initiatives to enhance the long-term value of the Roblox platform."
Source Fool.com
