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Roblox Debuts on the Stock Market - Find Out How Much the Gaming Company Is Now Worth!

Roblox Debuts on the Stock Market - Find Out How Much the Gaming Company Is Now Worth!

Roblox is big!

The gaming app, which experienced a big surge in popularity amid the pandemic, made its debut on the New York Stock Exchange on Wednesday (March 10) and closed at $69.50 per stock, giving the company a market cap of over $38 billion, CNBC reported.

“Shares began trading at $64.50, which represented a 43% increase from a private financing round in January, when the company sold shares for $45,” the news outlet reported of the company, which is now trading under ticker symbol RBLX.

Roblox is one of the top-grossing apps on Apple and Google devices. In the game, users create avatars that can move between games on the service, allowing users to do things like visit theme parks, adopt virtual pets and fight enemies with friends.

More than 1,250 developers made at least $10,000 last year through virtual sales in their Roblox games, CNBC also reported.

A movie is currently in the works based on a very popular puzzle game. Find out which one!

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Photos: Getty
Posted to: Roblox, Stocks

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