Roblox Corporation (NYSE:RBLX) is on the run again. After plummeting from a high of $141.60 to a low of $21.65, the gaming stock appears to have bottomed out. It’s also starting to pivot higher from oversold relative strength, moving average convergence divergence, and Williams %R.
Even better, the stock is shrugging off its latest earnings loss of 27 cents a share, which was wider than expected. In addition, bookings came in at $631.2 million, which was down 3% year-over-year, as its net loss grew to $160.2 million, which was well over expectations for $68 million.
However, despite that news, the stock is up about 20%. Why?
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