With so much hype and expectation now squeezed out of the stock, I’m inclined to take a more bullish stance on Roblox as we all start talking a bit more about the Metaverse and its longer-term potential.
Now that the stock has had over a year to settle, putting a halt to its initial free-fall, I do believe it’s a good time to give the video-gaming play a second look as it settles near the $40 range while most investors overlook the longer-term potential of the Metaverse. At its worst, the stock shed more than 80% of its value.
It was a steep sell-off that set the stage for a broader pullback across various high-tech growth companies. Roblox ( NASDAQ:RBLX) stock has been stuck in a funk ever since shares fell in late 2021 and early 2022.
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