Gaming company Roblox Corp. (NYSE:RBLX) has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Wednesday.
What Happened: Roblox is seeing the highest interest on the forum with 642 mentions as at press time, data from Quiver Quantitative showed.
Exchange-traded fund SPDR S&P 500 ETF Trust (NYSE:SPY) and graphics chip maker Nvidia Corp. (NASDAQ:NVDA) are in the second and third positions, having attracted 410 and 271 mentions, respectively.
Why It Matters: Roblox on Tuesday reported fourth-quarter earnings that missed analysts’ expectations, while bookings beat estimates.
The company’s quarterly loss was $0.25 per share, while bookings grew 20% year-over-year to $770.1 million.
Analysts expected Roblox to report a loss of $0.14 on revenue of $763.29 million for the quarter, according to data from Benzinga Pro.
Ahead of the earnings results, BofA Securities reinstated its coverage of Roblox, with a Buy rating and $84 price target. Analyst Omar Dessouky called the company the “category leader” in the emerging “Metaverse” media category.
Price Action: Roblox shares closed 7.3% higher in Tuesday’s regular trading session at $73.30, but fell almost 15.3% in the after-hours session to $62.10.
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Photo: Courtesy of Roblox
