Roblox Stock Is Off 40% From Its Peak Price -- Here's Why
Online game platform and game creation system Roblox (NYSE: RBLX) has performed well since its direct listing last year -- its shares began trading at around $60 and subsequently more than doubled over the next few months to hit a high of $141.60. The surge in user base during the pandemic, as well as the ongoing optimism on the metaverse, drove the strong performance in stock price.
Yet, after hitting its all-time-high, Roblox's stock price has corrected by more than 40%. While we can't be sure, there are a few possible reasons behind the recent drop.
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Source Fool.com
