UPDATED: Roblox (RBLX) debuted today on the New York Stock Exchange. The game’s debut on the NYSE is through a direct listing, meaning that new shares will not be created and sold as is the case with IPOs or Initial Public Offerings. Shares are expected to open at $45 and could see an immediate jump up to $60-$70 per share but experts warn new investors to fully understand direct listings before jumping into the world of investing, especially with new stocks.
The company saw a growth in users over the past year, mainly due to the popularity of video games during the pandemic. Players also use the game as a social platform to interact with friends in a virtual space. While the game has seen tremendous growth in its base since its inception, there have been some problems with security; some users have reported hacked accounts and disappearing virtual currency. The platform has also started to work with other companies for in-game content.
UPDATE 3/11/21 @ 9:00 AM: Shares up to $69.50 after first day of trading.