It reported $924 million in revenue representing a year-on-year growth of 82%, as well as 32.6 million daily active users for a year-on-year growth of 85%. In the latest statement of its finances presented prior to going public, Roblox has shown massive growth through 2020. It's popular with younger gamers and regularly posts impressive earnings statistics, such as lifetime revenue of over $2 billion on mobile platforms alone. Roblox functions more as a platform than a game, with third-party devs able to create and release their own experiences onto the platform.

Now Playing: What The Heck Is Going On With GameStop $1.9 Trillion Stimulus Passed Roblox Stock IPO originally appeared on usnews.By clicking 'enter', you agree to GameSpot's That, however, was bittersweet news for GME shareholders, who had briefly seen the stock hit $348.50 in intraday trading before plunging 40% in a matter of minutes.Īrtificial Intelligence Stocks: The 10 Best AI Companiesġ0 of the Best Tech Stocks to Buy for 2021Ģ021’s Dividend Aristocrats List: All 65 Stocks GameStop ( GME), which, entering Wednesday, had jumped more than 100% in just a week’s time and finished Tuesday at $246.90 a share, closed Wednesday’s trading day at $265, up another 7%. That said, its revenue is growing rapidly, jumping 82% in 2020 to $923.9 million.

Like many other hot tech names these days, Roblox isn’t yet profitable. More than half of its users are under 13 years old. It’s an extremely popular and fast-growing business, especially among kids.

The video game platform allows users to play games made by other users, and sells a virtual currency that users can utilize to spruce up their digital avatars. Shares finished up more than 54% from their reference price of $45 a share, finishing at $69.50. The popular gaming platform Roblox (ticker: RBLX) has become the latest hot private company to go public, doing so via a direct listing on Wednesday.

The Dow Jones Industrial Average rose 464 points, or 1.5%, to finish at 32,297. Business & Finance Click to expand menu.

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