The sheer excitement and anticipation leading up to the IPO turned the focus to “sympathy” stocks. By the end of the week, more than 170 million shares had traded in total, with RBLX stock finishing its first week out at $69.70. RBLX stock ultimately reached highs of $77.78 last week during its first 3-days of trading as a public company.

But on IPO day, shares began trading above $60 per share. In its direct listing IPO, Roblox was initially indicated at $45. Not only has this IPO shed light on eGaming, but it has also brought attention to digital entertainment companies, in general. It has over 164 million monthly users, with the vast majority of users being children under 16. However, there are options for in-game purchases made via the local “Robux” currency. The premise is that users can play games created by other users. Roblox is an online game platform and game creation system.

If you haven’t heard about this company, I’ll get you up to speed. Not only are we seeing attention focus on things like esports and iGaming, but also on different ways to access or even consume this new digital form of entertainment.Īdding to this was a very recent IPO of popular digital platform gaming developer Roblox ( NYSE: RBLX). Thanks to the 2020 pandemic, the entertainment industry as a whole ended up evolving. One of the main reasons for this has been the push for growth in digital entertainment. We’ve seen attention focus on things like telecommunications, broadcasting, and even esports technology. One of the hottest sectors for penny stocks recently has been technology. Hot Tech Penny Stocks To Watch This Month

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