Why Roblox Stock Skyrocketed This Week
Week to date, shares of Roblox (NYSE: RBLX) were up 13.8% through Thursday's closing price, according to data provided by S&P Global Market Intelligence.
Earlier in the week, the gaming platform announced first-quarter earnings results. It beat the consensus analyst estimate for bookings (a non-GAAP measure of revenue). Investors took the results as a sign that the company is returning to a more sustainable growth path after a sluggish year in 2022.
Year to date, the stock is up 40% but still down 74% from previous highs.
Source Fool.com
