Roblox Stock Falls 16%

(RTTNews) - Roblox Corporation (RBLX) shares dropped 16.04 percent to $46.40, losing $8.86 on Friday, even as the company reported solid first-quarter revenue growth, yesterday.

The stock is currently trading at $46.40, compared to its previous close of $55.26 on the New York Stock Exchange. It opened sharply lower at $42.38 and has traded in a range of $41.75 to $47.00, with volume reaching 25,836,504 shares.

The company reported a net loss of $246 million, or $0.35 per share, widening from a loss of $215 million, or $0.32 per share, a year earlier. Revenue rose to $1.44 billion from $1.04 billion last year, supported by strong user engagement and higher bookings.

The stock has traded between $41.75 and $150.59 over the past 52 weeks.