On Wednesday, one of the most anticipated IPOs in 2021 took place at the online gaming business Roblox Corp. (NYSE: RBLX) is announced with a direct listing.
What happened: Shares of Roblox a price of $ 45 before their debut on the market. The stock started trading at $ 64.50 on Wednesday.
A daily email issued by Ark Funds on Wednesday night showed that the ETF company founded by Cathie Wood bought Roblox shares on its first trading day.
The Ark Next Generation Internet ETF (NYSE: ARKW) bought 519,086 shares of Roblox, representing 0.47% of the fund’s assets.
Related link: Roblox exchange: how much developers earn, China Joint Venture plus more facts and figures
The Ark Next Generation focuses on finding businesses that ‘trust or benefit from the increasing use of shared technology, infrastructure and services, Internet-based products and services, new payment methods, big data, the Internet of Things and social distribution and media. ”
Social platforms are listed as one of the categories for components in the ETF. Roblox users spent 22.2 billion hours on the company’s platform in the first nine months of 2020, and as of September, it had 31.1 million daily active users.
RBLX price action: Shares of Roblox rose 9% to $ 75.69 in pre-market trading. The stock traded between $ 60.50 and $ 74.83 in the first trading day.
Related Link: Learn more about Cathie Wood of Ark Funds in her interview with Benzinga founder and CEO Jason Raznick on RazReport on YouTube.
(Photo: Roblox)
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