Baszucki explained that Roblox has come a long way over the past year. The world is reopening and Roblox is still seeing growth in its daily active users. That surge led to a 112% surge in revenues from last year.
Roblox is about a lot more than just gaming, Baszucki continued. The company creates "digital experiences" that can include music, items and more.
We reviewed the charts of RBLX on Tuesday and wrote that, "It is not unusual to have one chart telling us one thing and another chart suggesting something else. That's what we have with RBLX. Let's see how this plays out."
RBLX is trading higher Wednesday and that has helped the short-term picture. See the chart below. RBLX still needs to break above its August highs to start an uptrend.
Bottom line strategy: Let's continue to watch the charts and indicators to see if the bulls can gain control.