Roblox

The stock’s current valuation aggressively factors in a metaverse future that is likely still a long way off, wrote analysts at Cowen, who began hedging the stock on Sell with a price target of $31.

Roblox

(ticker: RBLX) shares were down 1% in Monday morning trading at $45.00, compared with a 1% rise in the

S&P 500 Index

The shares have lost half their market value this year and are down 68% from a record intraday high of $141.60 set in November.