(RTTNews) - Roblox Corp. (RBLX) announced that its board has authorized the repurchase of up to $3 billion of the company's common stock with the intent to buy back up to $1 billion over the next twelve months.
The program is designed to partially offset dilution from employee equity grants while preserving flexibility to invest in future growth opportunities, the company said.
RBLX closed the regular trading session at $44.45, down $2.53 or 5.39%. However, in the overnight trading session, the stock rebounded to $45.65, gaining $1.20 or 2.70%.
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