Universal Music Group Record Low; Roblox Slumps; Reddit Projections

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Universal Music Group (UMG NA) plummeted to their lowest level since listing, after the company reported disappointing subscription revenue growth. The world’s largest record label’s subscription revenues grew 16.6% in constant currency, including the impact of its purchase of Downtown Music Holdings, but analysts had expected a 19.2% increase.
- Roblox (RBLX) shares are lower after the video-game company’s second-quarter results disappointed on key metrics, including users and hours engaged. It also gave a forecast for both bookings and revenue that was weaker than expected.
- Reddit (RDDT) shares are moving after it projected revenue in the current quarter revenue that beat Wall Street estimates, but shares fell after the social media company failed to announce any new data licensing agreements.

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