Buy roblox stocks11/4/2023 Indeed, Roblox’s future growth depends on China. So Roblox is down on the news out of China, but Tencent is, in fact, in much worse shape. The company has a Chinese gaming license through a strategic partnership with Tencent, but Roblox currently doesn’t have major operations in China. Wait for that shoe to drop before buying the dip.īut Roblox is shielded here. Surely, another shoe will drop in this situation. In our opinion, this news makes certain Chinese-focused gaming stocks untouchable at the moment. People are worried, and rightly so, that what happened to the for-profit education sector could happen to the gaming sector to some extent. Given the state of affairs after China’s government went after the education sector, it makes sense that fear is running rampant in the markets today. The Chinese state-backed Xinhua newspaper recently published a scathing article about of the online gaming industry, even going so far as to call it “spiritual opium.” The publication also claimed China’s sights are now set on the gaming sector.
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