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Roblox stock closed at $41.60 on Friday, slightly above where it was earlier in the week when Hindenberg published its research. Related storiesIn the wake of the report, Wall Street and investors seemed to largely stick by the company. AdvertisementRoblox, which primarily makes its money from sales of online currency and items, has been working to grow its advertising business. The report could hinder Roblox's ad businessDespite Roblox's nearly immediate stock recovery and support from Wall Street, the report and related issues could have implications for Roblox's advertising business. Its ad business is barely a rounding error today, but Roblox is still not profitable, so it's trying hard to change that.
Persons: Hindenburg, , Roblox, It's, Hindenberg, Piper Sandler, Ron Kerbs, Roblox's, Roblox isn't, Jeremy Goldman Organizations: SEC, Wall, Service, Hindenburg, Securities, Exchange, Wall Street, Wedbush Securities, WPP, New, Bloomberg Businessweek, Walmart, Warner Bros . Pictures, Facebook, YouTube Locations: Roblox
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