Roblox’s stock price surged to an all-time high after Hasbro unveiled their partnership
This year, Roblox, which completed one of the most successful direct listings of 2021, reached a new high. The surge was caused by an announcement made by one of the largest toymakers globally, Hasbro.
The company revealed that it would sell Nerf blasters inspired by the videogame platform. Hasbro said that the blasters would hit the US shelves in the fall, and each toy will have a code entitling the customer to a “virtual blaster” for their Roblox avatar.
Even though the news impacted the markets, this is not the first time the two of them team-up. Hasbro also created a Roblox version of Monopoly.
After the news hit the wires, Roblox stock price jumped almost 9% to reach a record high of $81.69. At the same time, Hasbro added 1.2% to $98.23 per share.
Since March 10, when it became a publicly traded company, Roblox shares climbed 80% and reached a $44 billion market capitalization, compared to Hasbro’s $14 billion.
Sources: finance.yahoo.com, reuters.com