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Glu Mobile Inc. (NASDAQ:GLUU) Gaining on games

Boston, MA 07/17/2013 (wallstreetpr) – The shares of Glu Mobile Inc. (NASDAQ:GLUU) augmented to close at $2.74 in trading session of Tuesday, July 16. This closing figure demonstrates rise of 8.07%. After opening at $2.55, the stock exhibited an intraday high of $2.75 prior to closing at $2.74. With average volume of 1.30 million shares in last 90 trading sessions, a much higher volume of 3.30 million shares were traded in session of Tuesday.

Glu Mobile Inc. specializes in production and sales of mobile games. Glu Mobile Inc. has developed an action and adventure games portfolio, targeting a huge section of smart phones and tablet devices’ users who buy the games by means of digital online stores. The Company also builds games for intermediary licensed Cos. Glu Mobile Inc.’s original games include Blood & Glory, Contract Killer, Eternity Warriors, Zombies, Frontline Commando, Gun Bros and Stardom: The A-List.

The Company had acquired two Companies Griptonite, Inc.and Blammo Games, Inc. in August 2011 and GameSpy Technology from IGN Entertainment in August 2012.

Glu Mobile Inc. is making arrangements for a partnership to bring about real-money gaming based on some of the games of the Company. Obscene Interactive is going to provide a new range of gaming products to Glu Mobile Inc. The US residents also stand to win cash through one of its products to be launched next month. The shares of Glu Mobile Inc. are already up 40%.

Published by Ruchi Gupta

Swati Goyal has over 6 years of experience in financial research & analysis domain. She has built financial models varying from consumer goods to banks. She has her articles published in leading dailies of the nation

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