Business
Why Roblox Stock Skyrocketed Today – The Motley Fool
The latest stock to join the public markets exploded out of the gates.
What happened
Shares of Roblox(NYSE:RBLX) soared 54% Wednesday, marking a successful first day of trading for the popular video game developer.
So what
Roblox went public via a direct listing, rather than the traditional initial public offering (IPO) process. A direct listing allows a company’s existing investors to sell shares directly to the public, without the need for an investment bank to underwrite the offering.
“We love the direct listing for Roblox because we’re all going to come together…
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