Why Are Less People Playing Roblox?
RBLX has been on a downtrend since its peak on 2021-06-04. But today, it fell down sharply. A friend mentioned to me that there are reports of less people using the platform because the pandemic restrictions are being lifted.
From the chart, I see RBLX taking a breather from recent gains. Folks are taking profit off the table. It is still not a bear, because it's now hitting the 50 days average. It's still above the break out point on 2021-05-24. But if it falls below the 50 days average, then all bets are off.
I thought about what the reports said about less people playing. But thinking about my kids, it feels to me that they just gotten bored of playing Roblox. They have now rotated to other games, like League of Legends, Fortnite, and Rocket League. It's intriguing to me, but I can't put a finger on why the rotation.