Why Roblox Stock Fell Hard Today

Shares of the gaming platform company Roblox (NYSE: RBLX) plunged this morning after an analyst downgraded the company's stock and put a $30 price target on its shares. 

Investors reacted quickly to the news and sent Roblox stock tumbling 8.6% as of 11:57 a.m. ET.

Atlantic Equities analyst Kunaal Malde downgraded Roblox's shares from overweight to neutral and put a $30 price target on the stock. Malde is concerned that slowing user engagement is a problem that could hurt Roblox's growth. 

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Source Fool.com