Today, investors in Roblox (NYSE:RBLX) and RBLX stock are seeing a lot of green on their screens. Indeed, this stock is up more than 8% at the time of writing on some pretty intriguing news.
Today, Roblox is moving on an announcement made by Hasbro (NASDAQ:HAS) that Nerf blasters inspired by the Roblox video game are coming soon. With the purchase of a Roblox-inspired Nerf blaster, customers will also obtain a code entitling customers to a virtual blaster for their Roblox avatars. Additionally, Hasbro shared that it has been working on a Roblox-inspired Monopoly game.
Now, that’s pretty cool. These toys take me back to my childhood, and are nostalgic for many investors. However, seeing Roblox monetize its offering in unique ways appears to be behind the bullish surge in its stock price today.
Hasbro was also up approximately 2% on the news today.
Here’s more on the announcement, and what investors may want to know about Roblox right now.
Unique Growth Model Driving RBLX Stock Higher
Since Roblox’s highly anticipated IPO in early March, RBLX stock is up roughly 80%. Investors appear to be intrigued by the growth this company has shown, and the stickiness of its platform.
Roblox’s free online platform is unique in the sense that users can develop their own games. There happens to be a strong community of more than 37 million users that come to Roblox every day to hang out with friends and play new games. Indeed, Roblox has developed a unique model whereby content is created as fast as its community can write code. The more Roblox’s community expands, the greater the opportunity becomes for Roblox to profit from in-game purchases.
However, this move today to further monetize the company’s brand is impressive. Investors appear to be enamored by the moat Roblox is building via the strength of its brand.
I think there’s real opportunity on the horizon for future growth opportunities to materialize. Roblox’s management team has shown a penchant for thinking outside the box. It’s a company that’s reaching for growth via avenues other companies simply haven’t considered yet.
Accordingly, investors are buying in heavily today.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.