Shares of Roblox (RBLX) have corrected 36% after hitting an all-time high in September. The gaming market is expected to grow at a CAGR of 12.2% through 2030, with Roblox focusing on mobile-first gaming. The stock’s correction presents a potential investing opportunity.

Despite a challenging month for consumer discretionary stocks, Roblox posted a 140% YTD gain before correcting by 36%. The video game market is projected to exceed $600 billion by 2030, with companies like Microsoft prioritizing gaming. Grand View Research highlights growth in cloud gaming and mobile accessibility.

Roblox’s virtual economy allows users to create, share, and monetize experiences with its virtual currency, Robux. The platform’s business model benefits developers and shareholders, with positive Q3 earnings results. Analysts forecast growth in earnings and net income for Roblox, with a 70% YOY increase in Q3 bookings.

Institutional ownership of Roblox is at 94.46%, with short interest at 3.00% of the float. Analysts are bullish on the stock, with a $136.41 average 12-month price target, indicating nearly 51% potential upside. Consider investing in the popular gaming platform for long-term growth.

Read more at Yahoo Finance: Is It Time to Invest in Your Kid’s Favorite Gaming Platform?