Activision-Blizzard is no longer the most valuable video game company in the United States of America. Thanks to a recent surge in the company’s stock price, Roblox Corporation has dethroned Activision-Blizzard as America’s most valued gaming organization.
On November 9th, shares of stock in Roblox jumped by over 40% following the company’s release of its quarterly earnings report. As a result, the firm’s market cap has exceeded $62 billion. This easily tops Activision-Blizzard’s market cap, which is $52 billion according to The Wall Street Journal.
Outside of these two organizations lies Electronic Arts Inc. As of the week of November 10th, the company has a market cap of roughly $39.7 billion according to GameSpot.
The Profit‘s Take:
Roblox is continuing to go up while Activision-Blizzard spirals out of control with bad game launches and harassment allegations/lawsuits. Roblox’s success is not shocking. I have been saying for a while that it was going to be big. I adamantly believe that Roblox is going to be bigger than Twitter. In fact, as of November 17th, Roblox’s market cap was $72 billion while Twitter’s was $40 billion. So, Roblox is almost twice as valuable as Twitter at this moment in time. This company is just going to continue to become more valuable.
(All information was provided by GameSpot)