Some of the Top Analysts have awarded Roblox a Moderate Buy consensus rating based on 8 Buys, 2 Holds, and 1 Sell. Company CommentsĬommenting on the removal, a Roblox spokesperson said, “We always knew that building a compelling platform in China is an iterative process, and we are thankful for the support of LuoBuLesi users and our global developer community… It is critical that we now make the necessary investments, including investments in our data architecture, in order to realize our long-term vision.” Consensus View According to data analytics firm Sensor Tower, the LuoBuLesi app was downloaded approximately 1.7 million times. The app allowed users to both create as well as play video games and join virtual events. Meanwhile, users complained that they were unaware it was a test version. When users tried to log in to the app after its removal, they were greeted with a message thanking them for using the “test version” of the app. On December 8, the company removed its app from the China market app stores. Roblox had stressed the importance of the app in its prospectus, stating that China is an important market for its expansion and progress. In July 2020, Roblox launched the app in collaboration with a unit of the Chinese tech giant Tencent Holdings Ltd. The stock ended the day down 5.4% at $84.37 on January 7. The company was listed in March 2020, and its shares have lost 21.4% so far. According to Reuters, Roblox is building another version of the app. Shares of American video game developer Roblox Corporation ( RBLX) sank more than 7% on the news that it had removed its LuoBuLesi app from China’s app stores.
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