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RBLX Stock Up 9.40% on Tuesday as Roblox Announces Partnership with Toymaker Hasbro

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by Steve Muchoki · 3 min read
RBLX Stock Up 9.40% on Tuesday as Roblox Announces Partnership with Toymaker Hasbro
Photo: Unsplash

Roblox stock has been trading for just one month after the long-awaited initial public offering conducted last month.

Roblox Corp (NYSE: RBLX) stock closed yesterday trading at $82.05, up 9.40%. The spike was attributed to news from toymaker Hasbro Inc (NASDAQ: HAS) that announced a strategic partnership with Roblox to release themed Nerf and Monopoly merchandise. Besides, Hasbro shares jumped approximately 1.78% yesterday to close the day trading at $98.84. Meanwhile, they had further added approximately 0.16% during the after-hours trading session to trade around $99.00.

Through the new partnership, both companies anticipate merging some of their best products to bring together their gaming community. Notably, Hasbro has already developed a Roblox version of its Monopoly board game. The company has announced that the new Roblox Monopoly game version will go for $19.99 and is available for pre-order on Hasbro Pulse in the United States and at Big Bad Toy Shop in Canada.

Roblox and Hasbro Partnership

“We are thrilled to bring NERF Nation and the Roblox community together for the first time with an incredible line of blasters we know they will be clamoring to get their hands on,” said Adam Kleinman, Vice President, NERF Global Marketing. “Our design teams have done a phenomenal job capturing the creativity and essence of Roblox creators and their most immersive, innovative Roblox games in NERF blaster form and we can’t wait to deliver these new items to Roblox fans around the world!”

The NERF Roblox blasters are one of the most popular games with billions of lifetime plays. The Monopoly Roblox 2022 edition will allow its users to collect and trade popular Roblox experiences while playing the Roblox-inspired version of the iconic board game.

“Roblox values the incredible contributions of its community of creators, and our partnership with NERF is an ideal way to bring their inspiring creations on the platform to life for millions of Roblox and NERF/MONOPOLY fans to enjoy in the metaverse as well as in real life,” said Craig Donato, Chief Business Officer at Roblox.

In addition, Hasbro also announced that NERF will tap on the Roblox platform and in turn launch its NERF-branded experience on Roblox for the gamers to enjoy.

Roblox stock has been trading for the past one month after the long-awaited initial public offering conducted last month. With its stock having jumped approximately 6.56% in the past month, Roblox’s market capitalization has also jumped to approximately $41.29 billion according to MarketWatch. According to a survey conducted by MarketWatch, Roblox stock received an average of Buy rating from six ratings. The company has approximately 493.25 million outstanding shares.

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Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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