5 Oversold Stocks to Buy Right Now

2. Roblox Corporation (NYSE:RBLX)

Number of Hedge Fund Holders: 66

Roblox Corporation (NYSE:RBLX) is one of the oversold stocks to buy right now. On May 19, Roblox Corporation authorized its first-ever share repurchase program, allowing the company to buy back up to $3 billion of its common stock, to acquire up to $1 billion over the next twelve months. The initiative is intended to partially offset dilution from employee equity grants while maintaining the company’s financial flexibility to pursue strategic growth.

The program allows for repurchases through various methods, including open market transactions and privately negotiated deals. There is no fixed expiration date for the authorization, and management retains full discretion regarding the timing, price, and volume of shares bought back based on prevailing market conditions and corporate requirements.

CFO Naveen Chopra emphasized that while investing in innovation and growth remains the company’s primary focus, the strength of its balance sheet and free cash flow generation enables this capital allocation strategy. The announcement reflects management’s confidence in Roblox Corporation’s (NYSE:RBLX) long-term business trajectory and its commitment to reducing shareholder dilution.

Roblox Corporation (NYSE:RBLX) provides online gaming services through its platforms: Roblox Client, Roblox Studio, and Roblox Cloud. The company is based in San Mateo, California and was founded in March 2004 by Erik Cassel and David B. Baszucki.

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