On Wednesday, one of the most anticipated IPOs of 2021 occurred with the online gaming company Roblox Corp (NYSE: RBLX) going public with a direct listing.
What happened: Roblox Actions at a price of $ 45 before its market debut. The shares started trading at $ 64.50 on Wednesday.
A daily email sent by Ark Funds late on Wednesday showed that the ETF company founded by Cathie Wood bought Roblox shares on its first trading day.
THE Ark Next Generation Internet ETF (NYSE: ARKW) acquired 519,086 shares of Roblox, representing 0.47% of the fund’s assets.
Related link: Roblox IPO: How much developers earn, joint venture in China and more facts and figures
The Ark Next Generation is focused on finding companies that “trust or benefit from increased use of technology, infrastructure and shared services, Internet-based products and services, new payment methods, big data, internet of things and distribution and social media . “
Social platforms are listed as one of the component categories of the ETF. Roblox users spent 22.2 billion hours engaged on the company’s platform in the first nine months of 2020 and, in September, had 31.1 million active users per day.
RBLX Stock Price: Roblox’s shares rose 9% to $ 75.69 in the pre-market. The shares traded between $ 60.50 and $ 74.83 on their first trading day.
Related link: Learn more about the Cathie Wood of Ark funds in your interview with Benzinga founder and CEO Jason Raznick on RazReport on YouTube.
(Photo: Roblox)
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