Why Roblox Stock Crashed 20% on Thursday
Guidance is one of Roblox's problems. A too-expensive valuation is another.Shares of online gaming platform Roblox Corporation (RBLX -21.98%) tumbled 21% through 10:35 a.m. ET Thursday despite beating on both sales and earnings this morning.Heading into the Q1 2024 report, analysts had forecast Roblox would lose 923 million in quarterly bookings. (A proxy for revenue, Roblox's bookings consist of sales of Robux, virtual currency that will eventually be spent and converted into revenue.) ...