Roblox Corp RBLX shares are trading lower by 5.91% to $42.52 going into the close of Thursday's trading session.
The stock is falling Thursday amid the company's investor day event and after Brandon Ross of LightShed Partners tweeted 'Roblox DAU hit an all time high of 59.9mm in August. August bookings decelerated to 7% y/y growth in August and was down 4% from July. $RBLX'.
Roblox reportedly said the company is optimistic long term and they will be in good shape around the world even without advertising.
Roblox shares have also been volatile in recent sessions in tandem with several companies in the broader communications, media and entertainment industry amid overall market weakness after August CPI data showed greater-than-expected US inflation.
This has caused economic concerns and raised expectations for more aggressive Fed policy, which could affect overall consumer spending appetite.
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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