01:56 PM EDT, 10/08/2024 (MT Newswires) -- (Updates with stock movement in the headline and first paragraph, and adds statement from a Roblox ( RBLX ) in the third paragraph.)

Roblox ( RBLX ) shares dropped 3% in recent trading Tuesday following a report by short-seller Hindenburg Research.

Hindenburg said in its report that Roblox ( RBLX ) allegedly inflated key metrics, such as engagement hours and the number of "people" on its platform.

A Roblox ( RBLX ) spokesperson told MT Newswires that the company rejected claims made in the report, saying its authors are "admittedly short sellers and have an agenda irrespective of the substance of Roblox ( RBLX )' business model and results."

Price: 40.08, Change: -1.32, Percent Change: -3.18