The stock essentially stagnated by bouncing around between $70 and $90 until November 9th when the stock shot up 42% after reporting very strong Q3 earnings. However, on June 15, Roblox released its May 2021 Key Metrics and the stock dropped 8% because of the perception that growth was slowing. The stock traded as high as $103.87 intraday in early June because of investor excitement over the possibility that Roblox could evolve into one of the first Metaverse companies.
Wood, a long-time Tesla bull, has a massive online following and is a popular topic of discussion among the social-media savvy herd of small-time traders on the Reddit forums who regularly turn to Roblox to create memes and viral videos to accompany their ‘to the moon’ share tips.Īnalysts expect shares to trade with high volatility “for some period of time” due to the high level of retail interest.Roblox ( NYSE: RBLX) came public on March 10 of this year at an initial IPO price of $64.25, while ending the day up $5 at 69.50. John Patrick Lee, ETF Product Manager at VanEck, told Reuters: "Roblox’s blockbuster debut mirrors other gaming and tech IPOs that have gone live in the last six months, with high levels of demand on the secondary market after the company lists.” The news sealed Roblox’s record as the strongest opening ever for a direct stock market listing. It was turbo-boosted after Cathie Wood’s ARK Next Generation Internet exchange-traded fund (ETF) said it had bought more than half a million shares. The second wave of investor excitement lifted the value of the tranche of Class B ‘golden’ shares retained by founder David Baszucki - aka "builderman" - to more than $4.6 billion.
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