Kid-centric online platform Roblox on Wednesday announced an expanded collaboration with toymaker Mattel. The news drove Roblox stock higher.
Under the deal, Roblox will offer a new slate of games and experiences based on Mattel's brands, including Barbie, Hot Wheels and Masters of the Universe.
The first new experience, based on Monster High, will launch on Oct. 24.
"Roblox is one of today's most imaginative platforms, and this collaboration opens new ways for fans to experience Mattel's brands," Ron Friedman, vice president of Mattel Future Lab, said in a news release.
Mattel already has had success on Roblox, launching "Barbie DreamHouse Tycoon" in 2023. That experience has generated nearly 500 million visits.
On the stock market today, Roblox stock jumped 4% to close at 138.56.
Roblox stock has struggled lately as the company deals with concerns about child safety on its service.
On Sept. 29, Roblox stock broke out of a cup-with-handle base at a buy point of 139.97, according to IBD MarketSurge charts. But days later it plunged below its 50-day moving average line, triggering a sell signal.
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