Roblox (RBLX) Stock Price prediction: Roblox shares show that the inaugural pop was no coincidence

Update, March 10: Roblox Corporation (NYSE: RBLX) has kicked off Thursday's session with a rise to new highs of $77.78, giving it a valuation that flirts with $50 billion. Shares of the San Mateo-based company debuted with fanfare on Wednesday, attracting buyers and surging well above the reference rate of $45. The familiarity of parents who work at home to the firm's products may have added to buying of its shares from those glued to the screens. At the time of writing, the newly registered shared are changing hands at around $73.34, up some 5% but off the peak.

Roblox is a social gaming phenomenon with hundreds of millions of players globally. Roblox (RBLX) is looking to expand its offering into entertainment, toys, and other social gaming aspects. Roblox has experiences that are built by developers and used by hundreds of millions of players globally. Roblox was set up in 2004 by David Baszucki and Erik Cassel. Roblox has over 8 million developers and average daily users of 37 million according to Reuters. Roblox is based in San Mateo, California.

The stock is due to launch today Wednesday, March 10 on the NYSE under the ticker RBLX. On Tuesday the NYSE set the reference price for RBLX shares at $45.

Roblox Stock Forecast

So where will the price go. Well, most stock market launches have seen strong share price appreciations on launch day and Roblox is expected to be no different. While the NYSE set a reference price on Tuesday of $45, market talk is of Roblox stock price opening at $60-$65. This would give Roblox a market capitalization of approx $36 billion, according to Reuters.

Roblox last did a funding round in January according to Reuters which valued the company at $30 billion.

Roblox Stock News

Reddit has fueled recent share price appreciations from Gamestop, AMC, KOSS, etc and Roblox (RBLX) is expected to join the popular mem stocks and is already showing up strongly across social media. Roblox stock price, Roblox stock forecast is already trending heavily across multiple social media platforms.

Roblox stock is due to open sometime around 1100 EST according to reports from a NYSE spokesperson, according to Benzinga.

Previous updates

Update: Shares in Roblox closed at $69.50 on Wednesday having an opening at $64.50, from a reference price for the launch of $45. Retail interest in Roblox stock was strong with Reddit and many other social media sites showing strong trends to RBLX stock price. As of early Thursday, Roblox shares are higher again trading at $85.94 in the pre-market for a gain of 23%. 

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