There are SOPA Images and Contributor images.
There are SOPA Images and Contributor images.
Since going public in March, Roblox's valuation has increased by $26 billion, making it more valuable than brands like FedEx and Ferrari.
Since its public debut, Roblox has rallied 70%. In the last month alone, the shares have soared over 50%.
The company is now worth $68 billion, according to the Wall Street Journal.
FedEx is worth $65 billion, while Ferrari is worth $66 billion. It's worth more than BMW and Capital One. On Tuesday, the price of Roblox went up by 3.1% to $116.74 in New York.
The company formerly known as Facebook changed its name to "Meta" at the end of October and investors have been pouring into metaverse-related stocks and cryptocurrencies. The company's push into the next phase of the internet, called the metaverse, was the reason why the company's name was changed.
Millions of users spend time in the game building their own virtual worlds and spending and buying with their "Robux" as Roblox has mastered the "play" aspect of the metaverse.
David Baszucki, the company's chief executive officer, believes that Roblox is a crucial piece of the metaverse, where people can take part in town halls, conferences, and eventually even kill a frog for biology class.
The metaverse could be the biggest disruption to daily life ever seen, according to a Monday note from analysts. The analysts wrote that the shift to an online world would continue.
Business Insider has an original article.
