Roblox said it lost 50 cents per share on revenue of $517.7 million, missing top- and bottom-line estimates. Analysts expected the company to lose 32 cents per share on sales of $692.2 million, per FactSet estimates.
RBLX Stock IPO
The Roblox stock initial public offering (IPO) via direct listing occurred on March 10, 2021 with a suggested price of 45 per share. With a direct listing, no new shares in the company are created and sold. Nor did the Roblox IPO raise any capital. Instead, current investors begin selling already existing shares based on demand when trading opens.
On March 10, 2021, Roblox stock closed at 69.50, more than 54% above the 45 IPO price. A huge price percentage increase on the IPO day indicates strong institutional backing.
Roblox Fundamental Story
The company's eponymous "Roblox" game is the biggest mobile game of 2020 in the U.S. in terms of revenue, according to Sensor Tower. It surpassed "Candy Crush," which had been the top game for the past three years.
What makes Roblox different from other online game platforms is that it lets users create their own games. Developers receive 30% of the proceeds generated from a game, such as the sale of virtual outfits and avatars.
Roblox Stock Is A Metaverse Investing Play
What is the metaverse? The metaverse is considered a next-generation version of the internet. Technologists describe the metaverse as a persistent, shared, 3D virtual environment. There, people meet for activities ranging from playing games to conducting business. It incorporates such technologies as virtual reality and augmented reality.
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