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Thndr Claps » U.S. Claps » Tech 📲 » Roblox tumbles 🧱

Roblox tumbles 🧱

by Omar El Shorafa
December 16, 2022
Claps, NYSE, Tech

The Clap
Roblox (NYSE:RBLX) saw its stock collapse in yesterday’s session releasing an update that showed slowing growth and fewer revenues.

What
The company’s revenues grew 5%-7% YoY from November 2021. However, Roblox had estimated initially that revenues were to grow 22%-24% YoY, indicating a significant slowdown.

So What
The videogame industry has shown weakness during 2022, with other gaming companies cutting forecasts due to challenging economic conditions.

Now What
The company saw its shares decline more than 15% during yesterday’s session, down more than 70% YTD.

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