Why Roblox Stock Was Down on Thursday
Roblox (NYSE: RBLX) shareholders lost ground to a falling market on Thursday. The video game platform stock fell 7% by 3 p.m. ET, compared to a 2.8% slump in the S&P 500. The decline added to significant short-term losses for Roblox stock, which is down over 60% so far in 2022.
It was sparked by increasing Wall Street concern about its growth outlook in a slowing global economy.
Roblox didn't announce any news to spur the stock move. Its last operating update back in mid-September showed solid growth in key metrics like user additions and platform engagement. Yet Wall Street is more concerned about Roblox's increasing losses as spending slows in the digital advertising market. These pressures would accelerate in an economic contraction.
Source Fool.com
