Roblox Bookings Growth Continues to Decelerate, Is the Stock a Buying Opportunity?

Video game developer Roblox (RBLX) has sold off hard since it announced its August metrics highlighted a few glitches at investor day. The downward moves come in the midst of general market heavy selling in the face of higher interest rates and raging inflation. August average bookings per daily active user (ABPDAU) fell 14-16% y/y and slightly from July to $3.89-3.96. The dip m/m was expected as the gaming companies most popular demographic (ages 9-12) is back at school, however y/y … Continue reading “Roblox Bookings Growth Continues to Decelerate, Is the Stock a Buying Opportunity?”

Chinese Chip Designer Nano Labs IPO Tied to Grin Crypto Mining Sector and Metaverse

Launching an IPO is much to do about market timing. Unfortunately, Nano Labs, a fabless chip designer in China focused on cryptocurrency mining couldn’t have timed it worse. Cryptocurrencies have crashed, Crypto mining has been savaged by energy costs and China is continually at odds with the U.S. Nano Labs listed on the Nasdaq on July 12, 2022 under the symbol NA after it raised $20 million by offering 1.8 million ADSs at $11.50 The offering was near the top … Continue reading “Chinese Chip Designer Nano Labs IPO Tied to Grin Crypto Mining Sector and Metaverse”

Tencent’s Riot Games Pays $US100 million in Gender Discrimination Case

Game maker Riot Games, the video game maker said on Monday evening agreed to pay $US100 million to settle a gender discrimination suit with more than 2000 current and former female employees. The class-action lawsuit was filed in 2018 than in early 2020, two California employment agencies intervened to block the settlement, arguing that the women could be entitled to more than $US400 million. California had been investigating the company after claims of sexual harassment, discrimination, unequal pay and retaliation … Continue reading “Tencent’s Riot Games Pays $US100 million in Gender Discrimination Case”