ROBLOX shares are 8.65% and will likely surge further on strong earnings and user growth in the UK, US and Europe.
Roblox Corporation (NYSE: RBLX) stock price jumped 52% on its trading debut on 10 March, the direct listing seeing its valuation reach $46 billion. The strong start appeared to slow as the global economy began to reopen. The trend looks to be flipping with a strong earnings report for the first quarter piquing investor interest once more.
The quarterly report is not only proving to be a game-changing moment for the California-based game maker but is also pushing the RBLX high up among the best-performing stocks following an initial public offering (IPO).
How to buy Roblox (NYSE: RBLX)
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On 27 May, Roblox shares traded at a high of $97.47, adding about $7.76 or +8.65% to its value. After-hours trading has seen the stock break above $98.00 and could target a daily close above $100 going into June. Total gains over the past 30 days currently stand at 31.12%, but the stock still screams a buy.
Why buy Roblox?
With solid fundamentals in place, buying RBLX today looks like a bargain given where the stock price can be in the next few weeks or months.
Jim Cramer, an investor who hosts the popular MadMoney on CNBC, has labeled Roblox “a buy” and that view is likely to strengthen further if the company continues to impress amid a growing user base of over 43.3 million daily active users.