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Summary
- Gaming app company Roblox surged over 60 per cent on its Wednesday debut on NYSE.
- Its stock closed at US $69.50 per share, after it began trading at US $64.50.
After Spotify, Slack and Palantir, it is Roblox’s time to have a blast in the market. The gaming company made its debut on the New York Stock Exchange on Wednesday and surged over 60 per cent on the opening day of trade.
Also read: Five Online Gaming and Betting Stocks That Are Worth Paying Attention To
The gaming app company’s stock closed at US $69.50 per share, after it began trading at USD 64.50 and generated a market capitalisation of US $38.26 billion.
Roblox’s stunning debut comes a year after gaming apps had a dream business due to the Covid-19 pandemic and lockdown norms to tackle its spread. The company’s revenue last year was almost $925 million, which was an 82 per cent increase from 2019. The company has also said that it expects another 60 per cent revenue growth this year, from US $1.44 billion to US $1.52 billion.
Here are some UK gaming stocks that would be interesting to keep an eye on during the pandemic times:
Team 17 Group Plc (LON:TM17)
This FTSE 100 company has a market capitalisation of £880.87 million and has developed games like Worms and Overcooked. Its stock gained 9.7 per cent in the last three months. The company’s year-on-year revenue grew 34 per cent and adjusted EBITDA grew and 36 per cent for the year ended 31 December 2020.
Also read: Team 17 Group Plc announces acquisition
The shares of the company were trading at GBX 692.00 on the London Stock Exchange on Thursday around 1205 GMT.
Gaming Realms Plc (LON:GMR)
The developer of mobile-focused casino games had said that its December numbers pulled up its whole year’s performance. It said that it expects its adjusted EBITDA for the year would be £3.1 million and the full-year revenue will be £11.2 million.
Also read: Gaming Realms Plc enters a licensing pact with NetEnt
The shares of the company were trading at GBX 33.00 on the London Stock Exchange on Thursday around 1205 GMT.
Playtech Plc (LON:PTEC)
For the year ended 31 December 2020, the company’s revenue came in at €1,078.5 million against €1,440.5 million a year ago. Its adjusted EBITDA fell 32 per cent from last year and was at €253.6 million. CEO Mor Weizer said that the company made strategic and operational progress by adding new brands and said that the company made significant progress in the US market.
The shares of the company were trading at GBX 494.00 on the London Stock Exchange on Thursday around 1205 GMT.
