California-headquartered Roblox (NYSE:RBLX) is a major player in immersive, interactive gaming and the build-out of the metaverse. In a fresh, “game-changing” development (pun fully intended), RBLX stock added a complementary, high-conviction business to its holdings.
The timing really couldn’t be any better, as investors are in desperate need of a positive catalyst. Painfully, the share price has crashed from $141.60 in November 2021 to somewhere in the $40s recently.
In fact, the Roblox share price is below its debut price of $64.50. That’s not a good sign. However, RBLX stock still has potential to enhance its value as a premier gaming company and a provider of 3D virtual experiences.
To (hopefully) help the company and its stock get back on track, Roblox is reportedly making a multi-million-dollar investment in a similarly gaming-focused company. Some investors first caught wind of this in a tweet from Roblox:
“We are thrilled to announce the talented team at @Hamulgg is joining the Roblox team. They share our passion for innovation and will focus on creating new ways for people to play together and build deeper social connections. Welcome aboard and excited to get building together.”
So now, if you visit Hamul’s website, you’ll be greeted with an announcement of the transaction. There, it states most of its “early adopters were Roblox users and we are very familiar with the platform.”
In other words, Hamul is a perfect fit for Roblox — or vice versa, depending on how you look at it. Either way, the buyout should enhance Roblox’s stature as a gaming-market innovator and experience provider.
Consequently, investors are encouraged to consider taking a long position in RBLX stock. After the Hamul acquisition, Roblox and its shareholders could be on the path to a comeback in 2022.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.