Roblox Corp RBLX CEO David Baszucki will be featured Tuesday on CNBC's "Mad Money" with Jim Cramer.
What Happened: Roblox reported a quarterly earnings loss of 13 cents per share, which beat the estimate calling for a loss of 14 cents per share. The company reported quarterly revenue of $509.3 million, representing a 102% increase year-over-year.
Roblox said daily active users in the third quarter totaled 47.3 million, representing an increase of 31% year-over-year. The company said that hours engaged were 11.2 billion during the quarter, representing an increase of 28% year-over-year.
Related Link: Roblox Q3 Earnings Highlights: Revenue Up 102%, DAUs Hit 47.3M, October DAUs Grow Before Outage
Why It Matters: There has been "very very aggressive buying in this name today," according to Market Rebellion co-founder Pete Najarian.
Traders were buying the $105 strike Roblox calls that expire this week as soon as the market opened, Najarian said on CNBC.
"People [are] not only satisfied with the numbers that they've already seen, but expect to see this thing go even further to the upside," he said.
Najarian followed the unusual call buying volume spike and bought Roblox call options.
"Despite the fact that it's made this incredible move today, I think there's still more in this move left to go for the rest of this week."
RBLX Price Action: Roblox is making new all-time highs in Tuesday's trading session.
The stock was up 34.90% at $103.79 at time of publication.
Photo: courtesy of Roblox.
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