Why Roblox Stock Couldn't Win Today
Shares of Roblox (NYSE: RBLX) weren't investors' play of choice on Tuesday. Compounding the awful drubbing most tech stocks took on renewed inflation fears, the online gaming platform operator was dinged by a negative analyst note from a prominent investment bank. Ultimately, Roblox closed the day almost 6% lower.
That analyst is Morgan Stanley's Brian Nowak, who was reacting to the Roblox Developers Conference held last week. During that event, the company announced that it aimed to test immersive ads within its games for the remainder of this year.
Although Nowak generally welcomes this move, given the vast "unmonetized engagement" on the Roblox platform, he believes such a project could prove to be daunting.
Source Fool.com
