SaltLight Capital, an investment management company, released its “SaltLight SNN Worldwide Flexible FR Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The Fund generated a return of +15.61% in the third quarter of 2024. This letter discusses the firm’s broad thesis regarding the game industry’s future. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2024.
SaltLight Capital highlighted stocks like Roblox Corporation (NYSE:RBLX), in the third quarter 2024 investor letter. Roblox Corporation (NYSE:RBLX) develops and operates an online entertainment platform. The one-month return of Roblox Corporation (NYSE:RBLX) was 17.11%, and its shares gained 29.39% of their value over the last 52 weeks. On November 21, 2024, Roblox Corporation (NYSE:RBLX) stock closed at $49.35 per share with a market capitalization of $32.385 billion.
SaltLight Capital stated the following regarding Roblox Corporation (NYSE:RBLX) in its Q3 2024 investor letter:
“Roblox Corporation (NYSE:RBLX) has firmly established itself as the dominant player in user-generated gaming within Western markets. Meanwhile, Tencent has developed a similar ecosystem in China with its WeChat Mini-games platform. Owning both gives us a unique vantage point to assess the evolving landscape of user-generated gaming platforms globally.
A person taking lessons through Roblox Education, expanding their knowledge and skills.
Roblox Corporation (NYSE:RBLX) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held Roblox Corporation (NYSE:RBLX) at the end of the third quarter which was 54 in the previous quarter. Roblox Corporation’s (NYSE:RBLX) third quarter revenue reached $919 million, a 29% year-over-year increase, exceeding the previous quarter’s guidance range of $860 million and $885 million. While we acknowledge the potential of Roblox Corporation (NYSE:RBLX) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
