2/3/25 - $rblx - Not worth >$70

2/3/25 :: VROCKSTAR :: RBLX
Not worth >$70

- it's just not growing like it used to
- paying 9x for software will eventually be considered "expensive" in this tape, we seem to be nearing that moment by each passing Monday
- not a big short for me, it's a hedge w/ their EPS print this week
- it's a name i'd feel comfortable fading with 2-3x the size if the stock pops and it's a name where i'd keep the short exposure on such that it sinks
- getting 2% fcf yields for a consumer-growth-exposed name where the stock seems to be showing diff trends than the underlying... seems like a good funding short for the moment
- i should put "fcf" in quotes though, given the immense, almost egregious amount of stock based comp coming out of this thing
- may the right hands win

V