Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Roblox Up 12% Premarket As Cathie Wood’s Fund Buys Over 50,000 Shares

Stock MarketsMar 11, 2021 07:14AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters

By Dhirendra Tripathi

Investing.com – Roblox (NYSE:RBLX) shares were up 12% at $78 in premarket trade Thursday, extending their gains after their debut a day earlier. The reference price for the listing was set at $45.

Fund manager Cathie Wood’s Next Generation Internet ETF (NYSE:ARKW), has bought over 500,000 shares of the video-games developer, according to reports.

The company, founded in 2004 by David Baszucki,  went public through a direct listing Wednesday. At the close of that session, the company had a market cap of over $38 billion.

The company did not issue any new shares or raise any capital through the listing. Existing investors were allowed to sell their shares as there was no lock-in.

Roblox has more than 32 million daily average users on its online platform that allows them to program games and play those created by other users. Roblox is free to play, but there are in-game purchases available.

Shares of consumer-focused companies like Roblox are benefiting from the recent rally in the market that’s being fueled by hopes of the checks people will get under the $1.9 trillion stimulus package. Many believe some of that money will be spent on discretionary consumption like eating out and entertainment.

Roblox Up 12% Premarket As Cathie Wood’s Fund Buys Over 50,000 Shares
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (3)
Chris Sundo
Chris Sundo Mar 11, 2021 1:10PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
500k shares! Not 50k sh LOL. On MarketWatch it says 500k shares bought by Cath re ROBLOX
Reza Tusi
Reza Tusi Mar 11, 2021 8:22AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This article is amazing.TNX
Matt Kay
Matt Kay Mar 11, 2021 7:28AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
You can spot a dunb investment based on what cathie buys
Gene Kret
Gene Kret Mar 11, 2021 7:28AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Do your homework Matt. Her funds are very very profitable.
Gene Kret
Gene Kret Mar 11, 2021 7:28AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Oh ya, go TSLA!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email