Broadly speaking, it has been a challenging month for consumer discretionary stocks. Over that period, the sector has performed the worst among the S&P 500’s 11 sectors after posting a loss of 5.72%. But while that corner of the market has been dragged down by underperformers in the auto and leisure industries, others have just been pulled into the whirlpool along with them.
That’s precisely the case for Roblox (NYSE: RBLX), which had posted a more than 140% year-to-date (YTD) gain through Sept. 29 when it hit its all-time high. However, since then, the stock has corrected by 36% and is currently testing critical support.
