Roblox shares surge another 12% a day after the online-gaming company’s market debut


Shares in online gaming platform Roblox surged as much as 12% in regular trading Thursday, its second day of public trading.

Roblox’s direct listing on Wednesday saw its shares pop 54%, giving the company that owns just one game a $45 billion valuation. For comparison, rival video-game company Electronic Arts is valued at $37 billion. Microsoft’s priciest acquisition of a video-game company was its $7.5 billion purchase of ZeniMax Media, the video-game publisher behind blockbuster games like “Doom” and “Fallout.”

Roblox’ co-founder David Baszucki has so far gained the most from the company’s direct listing. His stake in the company is now worth about $4.6 billion, according to Bloomberg, after the stock’s first day of listing.

“We love the direct listing for Roblox, because we’re all going to come together and that first trade is going to be at the same price for everyone,” Baszucki told Bloomberg in an interview on Wednesday.

The company’s stock rose to $77.27 per share in the pre-market after closing the previous day’s session at $69.50 per share.

Screenshot 2021 03 11 at 12.38.15
Read the original article on Business Insider