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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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.