Investors who missed Roblox (RBLX) tripling in value in 2021-2022 may take a second look at the gaming firm. For the last three years, RBLX stock traded in a range of between $29.50 to around $45. After falling by 22% on Thursday to close at $30.42, bottom fishers may bet on a stock rebound.
Roblox expects weak bookings for the rest of 2024. It expects bookings of $870M - $900M. It will also lose $265M to $267M on a net basis. Bookings for the year are as low as $4 billion, compared to a prior outlook of up to $4.28 billion.
RBLX is Ark Invest’s (ARKK) sixth biggest position.
The post-earnings selling pressure in shares of Tesla (TSLA) continued. However, the stock may re-test the sub-$150 lows from April. Since rivals like Rivian (RIVN) and Lucid (LCID) lost more money last quarter, Tesla is positioned to grow its market share.
In the media sector, Warner Bros. Discovery (WBD) traded 3.08% higher after posting Q1 results. Although it lost $0.40 in EPS, it confirmed it would release a new Lord of the Rings movie.
Chip favorite Arm Holdings (ARM) fell as much as 8% before closing down by 2.34%. Watch for speculators buying AI chip suppliers to consider ARM stock.
