Here's the reasons I have long awaited to take position in GLUU today (glad I didnt pull trigger @around$5):
• Glu Mobile: I'm Not Zynga, Dude!
~ The developer of mobile games is reiterating its outlook for the quarter that recently ended. Even though it launched 11 titles during the quarter -- two more than it was originally targeting.
~ The new quarter should be better. Glu has healthy hopes for success with Contract Killer 2 and Death Dome, two of its bigger releases slated by year's end.
~ It expects to break even or better on an adjusted EBITDA basis, though it will have a clearer snapshot when it reports its third-quarter results early next month.
~ Why is Glu Mobile bothering to reiterate its guidance? Well, even though Zynga's stock tumbled 13% last week, Glu Mobile suffered a 14% plunge. Just a modest "I'm OK" a few days after Zynga pulled up lame is a smart tactical move.
I REALLY LIKE THIS ONE:
~ Sure, another catalyst for the announcement was that Glu Mobile's stock took a 19% dive on Tuesday. The stock tanked even though Glu Mobile announced an overseas partnership that would allow it to enter the real-money gaming business in some international markets.
~ In the next several weeks, we expect to launch Contract Killer 2 and Death Dome, which titles will be important to Q4 revenue performance.
.• PPS already baked in
• LOWER Price
Pps will be ok after earning on Nov. 01, 2012 going forward.
Just my 2cents, and always JMHO. Do your own DD and GLA.
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