Shares of Roblox jumped as much as 16% in a long-awaited public trading debut that left the online gaming company with a $44 billion valuation.

Executives at gaming giant Roblox pushed the company's planned IPO back to 2021, as they reportedly sought a higher initial listing price.

Roblox Corporation (NYSE: RBLX) shares are trading higher Monday after Wedbush reiterated its Outperform rating and a $165 price target.

The Roblox direct listing will lay down some groundwork for new conventional wisdom when it comes to pricing public listings and which methods are good to use.

The point-of-sale lender's decision to postpone its IPO comes shortly after Roblox decided to postpone its planned 2020 IPO until next year to seek a higher price, given the strong investor demand ...