• Business - Market Data
  • Updated: March 11, 2021

Roblox Shares Charge Upwards After Ark Fund's Bet

Roblox Corp's shares surged on Thursday premarket, extending their gains from yesterday's trading debut which saw the gaming platform soar over 54 percent after The ARK Next Generation Internet ETF made a big bet, snatching a whole 500,000 shares today.

The California-based company's shares on Thursday in premarket trading were rising 9.74 percent to $76.27.

READ MORE: GameStop Stock Crashes Dramatically Just After Reaching New Heights

Cathie Wood's Ark fund's big bet, worth $36 million, which was announced today weighs 0.47 percent of the fund, according to the trading position data posted on ARK's website.

Roblox Corp began trading through a direct listing of 199 million shares, bypassing the traditional route of an initial public offering.

Data showed that message volumes on Roblox on trading-focused social media site Stocktwits soared more than nine-fold on Thursday, with more than 80% of users’ messages reflecting positive sentiment toward the scrip.

Two-thirds of U.S. children ages 9 to 12 use the Roblox platform. Daily active users jumped 85% last year.

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Oluwatosin Ogunjuyigbe
Oluwatosin Ogunjuyigbe

A seasoned business content writer, financial markets analyst, and tech enthusiast.

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