Where Will Roblox Stock Be in 3 Years?
Roblox (NYSE: RBLX) has taken investors on a wild ride since it went public through a direct listing nearly three years ago. The gaming platform company's stock opened at $64.50 in March 2021, and more than doubled to its all-time high of $134.72 at the apex of the growth stock rally in November 2021, but now trades at about $40.
Roblox grew rapidly throughout the pandemic as its core audience of tween users stayed at home and spent more time on its platform. However, its growth cooled off as the pandemic ended and those players went back to school. Rising interest rates then drove more investors to scrutinize its persistent losses and lofty valuations.
Image source: Getty Images.
Source Fool.com
