Jim Cramer Is Bearish on These 5 Stocks in September

2. Roblox Corporation (NYSE:RBLX)

Number of Hedge Fund Holders: 38     

Roblox Corporation (NYSE:RBLX) develops and operates an online entertainment platform. During the Lightning Round of his show on September 14, Cramer outlined his bearish stance on the company while answering a viewer question, saying that he thought the company was losing money and he was not in the habit of recommending stocks that were money losers for investors. 

On September 16, Needham analyst Bernie McTernan maintained a Buy rating on Roblox Corporation (NYSE:RBLX) stock and lowered the price target to $53 from $55, noting the firm has a path for user and engagement growth globally. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Renaissance Technologies is a leading shareholder in Roblox Corporation (NYSE:RBLX), with 11.6 million shares worth more than $380 million.

In its Q4 2021 investor letter, Tao Value, an asset management firm, highlighted a few stocks and Roblox Corporation (NYSE:RBLX) was one of them. Here is what the fund said:

“Roblox (RBLX) got significant more attention from both institutional & retail investors after Facebook announced to rename itself as Meta Platforms. I believe the price appreciation is largely attributed to the increased attention. On business side, Roblox rolled out a few successful music events and also partnered with Netflix on testing long-form media consumption in virtual world. Apple in its iOS 14.5 rolled out an impactful change for digital advertising landscape by requiring all apps to ask users to “opt in”.