Roblox Reported Bad Earnings and Tesla Autopilot Being Investigated
Roblox is an online gaming company located in the San Francisco Bay Area. They have a market cap of $45.341 billion dollars, and they recently entered the market through an initial public offering. Roblox is a very popular stock due to the amount of young people who play their games.
On Monday, Roblox reported their second quarter earnings. Their bookings, another word for sales, rose 35% to $665.5 million, which was worse than the 161% surge in the previous quarter. Furthermore, they missed analyst expectations of $683.3 million when it came to bookings, which further disappointed investors. With kids back in school and vaccinations on the rise, its possible expectations were too high for Roblox as the company got a major boost from pandemic lockdowns. Nonetheless, Roblox fell 4.45% to $76.03 after the market closed.
Tesla is a landmark stock for multiple reasons. They are the biggest electric vehicle company, and they are led by visionary CEO Elon Musk. Tesla has a market cap of $679.319 billion dollars, with that number seeing a major rise during the pandemic, and they are based in Silicon Valley.
On Monday, the National Highway Transportation Safety Agency opened a formal investigation into Tesla Autopilot. Tesla Autopilot is a self-driving system that Tesla has been trying to implement into their cars, and recently, we’ve seen a lot of fatalities from the system. The investigation is meant to find the causes of the crashes to determine if Autopilot was a factor in it, but investors were still worried. Tesla finished the day at $686.17, down 4.32%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.