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Roblox Corp (NYSE:RBLX) shares moved lower after Hindenburg Research disclosed a short position in the gaming platform, alleging it inflated metrics including user numbers. Hindenburg Research alleges that Roblox is intentionally conflating “people” with daily active users (DAUs).
Roblox Corp. shares slumped Tuesday after short seller Hindenburg Research said it's betting against the gaming platform. Hindenburg says Roblox has inflated key metrics and there are safety issues.
On October 8, noted activist short-selling group Hindenburg Research released a report alleging that Roblox (NYSE: RBLX) has been reporting inflated metrics.
In early trading, Roblox (RBLX, Financial) saw its stock price dip over 9.3%, reaching a low of $37.51, before narrowing its losses to around 5%. The volatility comes as Hindenburg Research, a well-known short-selling firm, announced its short position on the company.
Roblox Corp RBLX stock plunged on Tuesday after Hindenburg Research issued a short report on the online game platform questioning its metrics such as user numbers.
The research firm alleges that the videogame company has exaggerated user data and engagement figures.
Hindenburg Research on Tuesday disclosed a short position in Roblox , saying the videogame company has been lying to investors and regulators about the number of users on its platform.
Roblox (RBLX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
In the closing of the recent trading day, Roblox (RBLX) stood at $41.99, denoting a -0.45% change from the preceding trading day.
SAN MATEO, Calif.--(BUSINESS WIRE)--Roblox to Report Third Quarter 2024 Financial Results on October 31, 2024.