Activision Blizzard has been overtaken by Roblox as the most valuable gaming company in the US, despite the recent release of Call of Duty: Vanguard.
As spotted by Gamespot, shares of Roblox increased by 40 per cent on Tuesday, following the release of its earnings’ report. The company is now valuated by the stock market at $62billion (£46billion), overtaking previous industry leader, Activision Blizzard, which stands at $52billion (£38billion). EA holds third place in the market with an estimated worth of almost $40 billion (£29billion).
Roblox only began trading publicly as of March this year. Companies often make the decision to do so in order to generate funds, such as Devolver Digital which was evaluated at $1 billion when it went public earlier this month.
It is not only the success of Roblox, but also…
