ONE PORTENT of a meme stock being born is when the company gets a pseudo-ticker on WallStreetBets, an online forum on Reddit. Roblox, an American video-game platform, has earned the tag $SEARS. Redditors aren’t mixing it up with a stodgy old department store. Roblox’s digital currency, Robux, sounds like Roebuck, of Sears Roebuck fame. Get it?
Roblox ticks other meme-stock boxes, too. The kids are into it, just as they were into GameStop, an ailing bricks-and-mortar gaming retailer whose share price soared earlier this year. Unlike GameStop, though, Roblox is all the rage with venture capitalists, Wall Street bankers and other supposedly hard-headed investors. The firm’s private valuation soared from
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