RBLX - Is It Time to Buy the Dip on Roblox Stock for Long-Term Gains?
2023-10-18 08:15:00 ET
The classic "buy the dip" strategy involves purchasing stocks when they're down in anticipation of future appreciation of share prices. On that score, Roblox (NYSE: RBLX) may have something to offer those who are looking to profit from such dips. Share of the gaming enterprise have slumped from a peak of $129 in late 2021 to a recent share price of $30.
But there's reason for more optimism now. On Oct. 10, Roblox announced it was expanding its reach, introducing accessibility to its platform via Sony 's PlayStation consoles. That strategic move, among others, makes Roblox stock well worth considering now.
Roblox doesn't fit the mold of the standard video game company. It offers a pioneering platform where users create and interact in virtual worlds -- a metaverse.
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Is It Time to Buy the Dip on Roblox Stock for Long-Term Gains?