Why Roblox Stock Was Falling This Morning
Shares of Roblox (NYSE: RBLX) were down 9% as of 10:55 a.m. ET on Friday. On Thursday, the company updated investors on its long-term roadmap for growth and revealed improvements coming to the platform in the near future.
The company's slowing growth coming out of the pandemic has weighed heavily on its shares in 2022. Several analysts have downgraded the stock in recent months, contributing to its 61% slide year to date.
Roblox reported a 24% increase in daily active users for the month of August. The platform continues to gain popularity as a place to hang out and interact among nearly 60 million daily active users. Wall Street, however, is concerned about falling bookings (a non-GAAP measure of revenue) and weakening user monetization.
Source Fool.com
