Why Roblox Stock Jumped 26% in May
Roblox (NYSE: RBLX) shareholders beat the market last month as their stock rose 26%, compared to a 0.55% uptick in the S&P 500, according to data provided by S&P Global Market Intelligence. The rally pushed the entertainment stock, which only went public in mid-March, higher by over 40% so far in 2020.
Investors found plenty to celebrate in Roblox's first-quarter report. Its kid-focused content platform attracted 43 million users in Q1, up 37% from a year ago and higher by 1 million, compared to three months ago. Engagement was elevated despite a return to more normal mobility patterns in key markets like the U.S., too. Users collectively spent 3.2 billion hours on the service in April, up 18% year-over-year.
"We're inspired by the way in which the Roblox community creates and shares experiences to play, work, and even learn together," CEO David Baszucki said in a press release.
Source Fool.com
