The New York Stock Exchange welcomes Roblox executives and guests (NYSE: RBLX) today, Wednesday, March 10, 2021, in celebration of its Direct Listing.
NYSE
Shares of Roblox, a children’s games app, jumped more than 11% in premarket trading on Thursday after it was revealed that one of Cathie Wood’s funds bought the shares on its first trading day.
The Ark Next Generation Internet ETF added more than 500,000 shares, which represented about 0.5% of the fund’s portfolio, according to a daily trading announcement. The position was worth approximately $ 36.1 million at Wednesday’s closing price.
This is after the company skyrocketed more than 54% in its market debut on Wednesday. The shares, with an opening referenced to $ 45 per share, started trading at $ 64.50 and closed at $ 69.50 each, giving the company a market value of $ 38.26 billion. Based on a fully diluted share count of 652 million, which includes units of restricted shares that will be converted into common shares, the company was worth $ 45.3 billion from its closing price.
Roblox hits the market out of an explosive year of growth, especially for children who were stuck at home because Covid-19 forced the closure of schools and sports leagues. In the game, users create avatars that can move among the millions of games on the service, navigating theme parks, adopting virtual pets and fighting enemies with their friends.
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