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Benzinga

Business

Henry Khederian

Why Roblox Shares Are Falling Today

Roblox NYSE Roblox Corp

Roblox Corp (NYSE:RBLX) shares are trading lower by 9.68% at $27.15. Roblox is falling after Atlantic Equities downgraded the stock from Overweight to Neutral and announced a $30 price target.

Roblox is also experiencing marked weakness after social media peer Snap Inc (NYSE:SNAP) filed a Form 8-K with the U.S. Securities and Exchange Commission showing it expects to miss its previously-issued guidance.

"The macroeconomic environment has deteriorated further and faster than anticipated," Snap said in the filing... Read More

See Also: Why Pinterest Shares Are Sliding Today

Roblox operates an online video game platform that lets young gamers create, develop, and monetize games for other players.

According to data from Benzinga Pro, Roblox has a 52-week high of $141.60 and a 52-week low of $21.65.

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