Investors from various countries are interested in Roblox stock. This game making platform has become very popular in the game field and continues to develop. That is why RBLX shares are closely monitored, and many consider buying them. Traders Union experts have prepared a roblox stock price prediction. The analysts have conducted a fundamental and technical analysis of RBLX securities and prepared a report with the results.
What is Roblox?
Roblox is one of the largest platforms that allows users to develop games and play them. Some experts even call it a metaverse. The total number of Roblox users exceeds 180 million. In total, gamers have played 107 billion hours.
In March 2021, Roblox made its initial public offering (IPO). Its shares with the RBLX ticker symbol are traded on the New York Stock Exchange (NYSE). At the time Robolox was first listed on NYSE, it was worth $41 billion, according to expert assessment. During the IPO, the company’s shares were sold at $64.50 per security.
RBLX chart shows flat movement without significant spikes or drops in long-term timeframes. Robolox price reached its peak during the pandemic, when the whole game industry went through a huge spike in prices. RBLX shares will primarily be interesting to investors in mid-term intervals, where high volatility may occur.
Technical analysis for the upcoming month shows that investors’ sentiment is negative. Based on the readings of technical indicators, market sentiment towards RBLX shares is bearish. However, when this period ends, the trend may reverse and securities will rise in price again. That is why now is the optimal period to monitor RBLX and look for entry points.