Friday, December 3

Cathie Wood fishes in the Roblox metaverse

The last move of Cathie Wood It has generated millionaire profits in just one day.

The bottom Ark Invest, owned by one of Wall Street’s most recognizable gurus, took advantage of the sharp rise in Roblox shares following its results to sell part of its stake in the video game company.

In all, Ark disposed of 82,267 titles from Roblox, earning Wood’s fund about $ 10 million.

Wood sold at record highs

Roblox lost 78 million in the last quarter compared to 50 million in the same tranche last year. But it was the income, of 509 million, which caught the attention of investors, doubling those obtained in the same quarter of the previous year.

Without accounting for provisions, which rose 28 percent year-on-year, revenues would rise to 618 million, far exceeding the 590 million recorded between January and September 2020.

The company, founded in 2004, is known for creating a universe of video games aimed mostly at those under 15 years of age. The success is that users can develop games collectively.

Thus, Roblox already has more than 200 million monthly players and 5 million game creators. Figures that acted as a claim from investors.

In Tuesday’s session, when it presented its figures, the platform’s shares soared more than 40 percent on Wall Street and reached all-time highs at $ 109. That is when Wood took the opportunity to proceed with the sale of part of its capital.

Close to 20,000 million since its debut on the stock market

Ark Invest showed interest in the company after his Wall Street debut in late March.

Roblox debuted on the world’s largest stock market at a price of $ 64.50. In his first session in New York it soared 50 percent.

Since then, his shares have gained 37 percent on the stock market. After their all-time highs on Tuesday, stocks have corrected the sharp rise and are now trading at around $ 95.

In these months as a listed company, its market capitalization has gained 18,700 million, leaving succulent gains for investors like Ark.

Metaverse and Netflix poll

Especially due to the growing increase in the video game sector. Also for a concept that has recently gained weight thanks to Facebook: the metaverse.

“Our business plan 17 years ago predicted this new category where people can come together. For the last 16 years we have been innovating, building a community not only of players; also from developers ”, he said David Baszucki, founder of Roblox, in an interview with CNBC after the results.

“Our entire company is really focused on innovation to drive and guide this vision of what some people call the metaverse,” added the CEO of the company.

“The growing participation of the brand will expand the Roblox user base from children to adults, providing further growth as the metaverse evolves,” explained analysts at Globaldata, a firm specializing in video games.

Roblox partners range from clothing brands such as Gucci or Vans to platforms such as Netflix, which hired the company to develop the video game for the hit series Strangers Things launched in summer, in one of the streaming giant’s first forays. in the ‘gaming’ sector.

According to the consensus consulted by, the stock still has the potential to rise another 4 percent, yielding a price target on the verge of $ 100 per share. The company has 75 percent recommendations.

Wall Street giants like JP Morgan O Goldman Sachs They aim higher than the panel of experts and this week, after the results, they set target prices of $ 123 and $ 124 respectively. A vision that surely allows Cathie Wood to continue rubbing her hands with her new fetish.

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