![]() ![]() “Roblox’s blockbuster debut mirrors other gaming and broader tech IPOs that have gone live in the last six months, with high levels of demand on the secondary market after the company lists,” John Patrick Lee, ETF Product Manager at VanEck, said. Wood’s ARK Next Generation Internet ETF said it had bought more than 500,000 shares of Roblox, weighting it at 0.47 percent of the fund and adding to the strongest opening ever for a direct stock market listing. The California-based company’s stock was up 5.3 percent in late morning trades, after having risen more than 20 percent earlier in the day, also boosting the value of the shares held by founder David Baszucki – known to Roblox users as his avatar “builderman” – to more than $4.6bn. Shares of Roblox Corp jumped on Thursday, building on the gaming platform’s almost 55 percent rise on its stock market debut a day earlier, as well-known stockpicker and exchange traded fund (ETF) operator Cathie Wood bought into the company. ![]()
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