Roblox Corp (NYSE:RBLX) shares are trading sharply higher by 12.06% to $39.30 during Tuesday's trading session. Shares of several technology and software companies at large are trading higher Tuesday amid volatility in stocks as traders assess the possibility of a recession.
Growth companies at large are also trading higher amid a drop in yields. A drop in yields will increase the present value of future cash flows, which can raise growth stock valuations.
Roblox shares were otherwise trading lower last week after data showed a slowdown in U.S. consumer spending in May. The U.S. Bureau of Economic Analysis reported real disposable personal income decreased 0.1 percent in May and real personal consumption expenditures decreased 0.4 percent; expenditure on goods decreased 1.6 percent.
According to data from Benzinga Pro, Roblox has a 52-week high of $141.60 and a 52-week low of $21.65.
