2024-12-06 07:54:01 ET
A fresh, and quite bullish, analyst note on Roblox (NYSE: RBLX) was a major catalyst lifting the online video game company's stock over the past few days. With that gust of wind at its back Roblox's stock was enjoying a nearly 18% gain week to date as of late Thursday evening, according to data compiled by S&P Global Market Intelligence . In fact, the shares notched a new year-to-date high that day, at nearly $59 per share.
Roblox already had good momentum going into the week. Just before Thanksgiving it announced a special deal on Robux, its proprietary, in-game digital currency. In a message posted on its Creator Forum, the company said it is offering users discounts up to 25% when purchasing Robux via the company's gift cards, its app, or its website.
This is a sensible move to push out middlemen such as Apple and Alphabet , which typically take chunky cuts of every sale made through their app marketplaces. Investors traded Roblox stock up on that news.
