On Wednesday, March 10, Roblox’s stock price rocketed up nearly 55%, to $69.50! Roblox is a popular video game, where people can customize their own avatars and choose different games from inside the platform to play. It is free to download on mobile devices, laptops, and Console. The stock market is an area where investors can buy “parts” of companies, so they own a small part of the company. As the value of the company increases or decreases, the investors money does the same thing.
Roblox makes its money by selling online in-game currency called Robux. Roblox’s revenue was $925 million last year, which is 82% more than 2019’s revenue. It now expects about a 60% rise in revenue from 2020 which is somewhere between $1.44 billion and 1.52 billion.
At the end of 2020, it had 32.6 million daily users, and expects somewhere between 34.6 million to 36.4 million active users by the end of 2021. Most of the people that play Roblox are less than 13 years old, but they now expect to get many more 17 – 24 year old users. Roblox is still not making any profit, and has lost more than $253 million last year in 2020, and they lost around $71 million in 2019. Roblox is still popular though there are many other popular games, like Minecraft, Fortnite, and the increasingly popular Among Us.
Source: https://www.cnn.com/2021/03/
