Roblox (NYSE: RBLX) shareholders trounced the market this week as the stock gained 28% through Thursday trading compared to a 3.3% surge in the S&P 500, according to data provided by S&P Global Market Intelligence. The move only erased a small portion of recent losses for the digital entertainment platform, though. The rally occurred as some investors saw a bargain in the stock, which is valued near an all-time low.
Perhaps no company exemplifies what people mean by the metaverse more than Roblox (NYSE: RBLX), a virtual platform where people can play games, interact with friends, and explore different worlds. Down 70% just this year, is Roblox stock a buy right now? Roblox released its first-quarter 2022 earnings results on May 10.
The metaverse is getting a lot of buzz these days, and rightly so. The idea of digital worlds powered by virtual reality, artificial intelligence, and other computing technologies is a fascinating concept. It's still in its early stages, but the metaverse has the potential to transform a range of industries, including gaming, fashion, retail, and real estate, among many others.