It's IPO day plus one for Roblox Corporation (NYSE:RBLX), the red-hot gaming hub that's entertained our kids all through the pandemic. Yesterday, as you've probably heard, Roblox debuted on the NYSE after noon, shooting straight from its $45 "reference price" to begin trading at $64.50, ultimately closing the day up 7.7% at $69.50. Roblox's astonishingly good performance yesterday wasn't actually a huge surprise. Although the NYSE had set a reference price of $45 on the shares, based on their last-known cost in a private transaction, early indications on TheFly.com from bids coming in suggested the stock would begin trading much higher. As early as 10:30 a.m., in fact -- three hours before the first trade was executed -- TheFly pegged the stock as "indicated to open at $60-$65" a share. Still, as the shares wobble from higher to merely high on their first full day of trading, investors are clearly playing it by ear, uncertain how much they should be paying for a share of Roblox. This is the nature of direct-listing IPOs.
What's going on Internet, Analytic here aka Dreamz and I would like to welcome you to mine, which I call the Notorious Mass Effect Podcast! I am your Hip-Hop / Gaming News source with a little bit of R&B mixed in. For Episode 41: “QUAVO VS LIL BABY” “2021 GRAMMY WINNERS" “ROBLOX STOCK” “BEYONCE & MEGAN THEE STALLION” But before that make sure to Click my Linktree in my bio to access my social medias and follow, to keep up with my latest activities, if you want to financially support the show click my cash app link located towards the top of my linktree as it helps the show overall, also make sure to share this podcast as this helps the show reach more people so we can grow together and effect the masses!
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