Why Roblox Shares Are Rising

Roblox Corp RBLX shares are trading higher by 5.11% to $37.36 Monday morning after Walmart Inc WMT announced the launch of two experiences on Roblox.

What Else?

Called Walmart Land and Walmart's Universe of Play, the spaces offer unique interactive content and entertainment for customers, bringing to life the best of Walmart's ‘isles' in a virtual world.

"We're showing up in a big way – creating community, content, entertainment and games through the launch of Walmart Land and Walmart's Universe of Play," said William White, chief marketing officer, Walmart U.S.

"Roblox is one of the fastest growing and largest platforms in the metaverse, and we know our customers are spending loads of time there. So, we're focusing on creating new and innovative experiences that excite them, something we're already doing in the communities where they live, and now, the virtual worlds where they play."

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According to data from Benzinga Pro, Roblox has a 52-week high of $141.60 and a 52-week low of $21.65.