![]() ![]() The SEC has reservations over the way in which Roblox recognizes revenue from the sale of its currency, Robux, on its platform, according to the memo seen by Reuters. ![]() Roblox’s valuation skyrocketed to $29.5 billion in a fundraising round earlier this month, more than seven times the $4 billion the company was valued at 11 months earlier, amid a surge in the popularity of video games during the COVID-19 pandemic. The company had said in a regulatory filing earlier this month that it was aiming to list shares on the New York Stock Exchange in February. The delay is a setback for one of the most eagerly-anticipated U.S. Securities and Exchange Commission’s scrutiny of how the video game platform recognizes revenue in its finances, according to a memo the company sent to employees on Thursday. The shares are now off 35.5% year-over-year, and are currently on the short-sale restricted list.Roblox Corp has postponed plans to go public because of the U.S. Today's negative price action is set to be the stock's worst single-session drop since November 9, and puts RBLX on track for its lowest close since January 9. This is per Roblox stock's 50-day call/put volume ratio of 5.23 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 96% of readings from the past year. New positions are being opened at the four most popular contracts, led by the October 45 call.Ī broader look shows options traders were more call-heavy than usual over the last 10 weeks. Already, 34,000 calls and 27,000 puts have exchanged hands, volume that's eight times the intraday average amount. Options traders are blasting RBLX in response. Roblox saw bookings rise a smaller-than-expected 22% over the last 12 months, while daily active users jumped 25% over the same time frame. The bear gap comes after the gaming company reported second-quarter losses and revenue that were wider than Wall Street's forecasts. ![]() Roblox Corp (NYSE:RBLX) stock is tanking, last seen down 20.1% to trade at $30.15, one of the worst stocks on the New York Stock Exchange (NYSE) today. ![]()
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