Roblox Corp RBLX is a popular video-game company among young people and kids. The company stands apart from other gaming companies with its unique system of allowing creators to develop their own games. Users enjoy the ability to not only play other user’s popular games, but also to imagine and create their own.
Unusual Options Activity: The stock traded up as much as 7% on Friday. Traders placed large options orders, betting that Roblox’s stock will continue to rise. According to Benzinga Pro, one trader placed 4,000 contracts with a $120.00 strike that expires on June 25. Another trader placed $105.00 call sweeps that expire at the end of trading today.
Roblox’s stock has been a favorite among retail investors since its direct public listing. ARK’s Cathie Wood famously purchased 500,000 shares, or $36 million worth, of the company after its listing.
The stock was up 6.8% to $103.09 per share at publication time.
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