Therefore, the exit from a country with over 720 million gamers has pushed many investors away from the company. The firm said that it shut its iOS and Android apps in January in a bid to work on a new one. Second, the RBLX stock price has crashed because of the company’s decision to exit the Chinese market earlier this year. This ETF is made up of some of the top companies that shone during the Covid-19 pandemic, like Teladoc, Shopify, and Spotify. Most stocks that did well during the pandemic have sold off.Ī good example of this is Cathie Wood’s Ark Innovation Fund, which has crashed by over 62% from its highest point in 2021 and is trading at the lowest point since June 2020. First, the decline is mostly because of the ongoing rotation from lockdown stocks to reopening ones.
There are several reasons why the Roblox stock price has crashed hard in the past few months. In total, these users stay on the platform for over 10 billion hours every quarter. Roblox is an extremely popular platform with almost 50 million daily active users from around the world.
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