Roblox (NYSE:RBLX) stock is taking a beating on Wednesday after the gaming platform revealed its key metrics for November 2021.
Let’s dive into that data, as well as other reasons why RBLX stock is falling today.
- While much of that data was positive, one point, in particular, isn’t sitting well with investors in RBLX stock.
- The company reported that its estimated average bookings per daily active user were between $4.21 and $4.27.
- That represents an 8% to 9% decline year-over-year.
- That decrease in estimated average bookings per daily active user comes despite Roblox reporting daily active users of 49.4 million for the month.
- That’s a 35% increase compared to the same time last year.
- Also, hours engaged in November were up 32% to 3.6 billion from the same period of the year prior.
- Of course, there are other reasons for RBLX stock to be down today.
- That includes recent criticism of the gaming platform not doing enough to safeguard the children that use it.
- A recent investigation into the game development platform highlights its market for cosmetic items, which can reach up to $10,000 in real-world money.
- That, combined with alleged shady practices, as well as the fact Roblox is targeted at children, isn’t doing RBLX stock any favors today.
- It’s also worth noting that the recent dip in RBLX stock is taking place alongside heavy trading of the shares today.
- This has some 23 million shares of the company’s stock changing hands.
- That’s well over its daily average trading volume of roughly 16.1 million shares.
RBLX stock is down 10.9% as of Wednesday morning but is still up 37.8% since its initial public offering (IPO) back in March.
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