Why Roblox Stock Was Hot With Investors This Week

A fresh, and quite bullish, analyst note on Roblox (NYSE: RBLX) was a major catalyst lifting the online video game company's stock over the past few days. With that gust of wind at its back Roblox's stock was enjoying a nearly 18% gain week to date as of late Thursday evening, according to data compiled by S&P Global Market Intelligence. In fact, the shares notched a new year-to-date high that day, at nearly $59 per share. Roblox already had good momentum going into the week. Just before Thanksgiving it announced a special deal on Robux, its proprietary, in-game digital currency. In a message posted on its Creator Forum, the company said it is offering users discounts up to 25% when purchasing Robux via the company's gift cards, its app, or its website. This is a sensible move to push out middlemen such as Apple and Alphabet, which typically take chunky cuts of every sale made through their app marketplaces. Investors traded Roblox stock up on that news.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool