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Roblox Stock Surges to Record High on New Partnership

Shares of Roblox (NYSE: RBLX) surged to a new all-time high Tuesday when the company announced a partnership with Hasbro (NASDAQ: HAS), which said it will create a line of toys and games based on the global video-game development platform.

Hasbro will introduce a range of Roblox-inspired Nerf blasters "representing some of the most popular experiences on the Roblox platform," the companies said in a statement. Hasbro will also release a Roblox version of its iconic Monopoly board game.

Image source: Getty Images.

Hasbro designed the Nerf blasters to mimic those found in some of most popular games on the Roblox platform. These include such hits as Adopt Me!, Arsenal, Jailbreak, Mad City, Murder Mystery 2, and Phantom Forces.

That's not all. Every Nerf blaster will include a code that Roblox players can redeem for a virtual blaster that can in turn be used in the games that inspired it. Hasbro said the Roblox Nerf blasters, which fire plastic foam projectiles, will hit stores this fall.

The Monopoly: Roblox 2022 Edition will also feature experiences inspired by the games, and will include a code that can be redeemed for a special virtual item.

Roblox is one of the world's most popular gaming platforms focused on children. The company only went public last month, and its shares have surged from the $45 reference price set for its direct listing, and are now trading at a new record near $82 after the Hasbro partnership announcement.

The Roblox platform is mainstay with tween fans, so the collaboration with Hasbro is a logical next step.

Roblox grew its million daily active users (DAUs) to 32.6 million, up 85%, in 2020, spurred on by the pandemic. Engagement also reached record heights, as hours spent increased 124% to 30.6 billion hours, or roughly 2.6 hours per user per day. At the same time, revenue grew 82% to $924 million, and bookings soared 171% to $1.9 billion, though the company is still unprofitable.

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Danny Vena owns shares of Hasbro. The Motley Fool owns shares of and recommends Hasbro. The Motley Fool has a disclosure policy.


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