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Roblox Stock Drops as Three-Day System-Wide Outage Ends

Roblox shares fall after the online gaming 'metaverse' platform restores services following an outage that kept its games popular with kids offline for three days.

Roblox  (RBLX) - Get Roblox Corp. Class A Report shares fell Monday after the online gaming 'metaverse' platform restored services Sunday following a major outage that kept its games popular with kids offline for three straight days.

Roblox shares were up 2.71% at $81.85 in morning trading Monday after the online platform said it had restored service to its metaverse platform, which lets users both play and create games, after a three-day outage that began last Thursday evening.

The company said in an update to its status page last week that it had identified the root cause of the outage as an “internal system issue” and was working on a fix. As of Sunday evening, the platform was fully operational again.

“We are sorry for the length of time it took us to restore service,” Roblox founder and CEO David Baszucki said in a blog post Sunday.

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“This was an especially difficult outage in that it involved a combination of several factors. A core system in our infrastructure became overwhelmed, prompted by a subtle bug in our backend service communications while under heavy load.”

“This was not due to any peak in external traffic or any particular experience,” Baszucki said. “Rather, the failure was caused by the growth in the number of servers in our datacenters.”

Early reports speculated the outage was related to a Halloween promotion event in partnership with food chain Chipotle  (CMG) - Get Chipotle Mexican Grill, Inc. Report. However, Roblox said it was “not related to any specific experiences or partnerships on the platform.”

Roblox is considered a key player in the so-called 'metaverse,' a term referred to a shared virtual reality. The company, which went public in March, has more than 43.2 million daily active users, many of them aged 13 and under. 

Social media giant Facebook  (FB) - Get Meta Platforms Inc. Class A Report last week changed its name to Meta to reflect its growing focus on the metaverse and virtual reality. The company will officially begin trading under the ticker  (META)  on the New York Stock Exchange Dec. 1.