Friday, June 12, 2009

Glu Stock Gets Unstuck...Rises 52% This Week

Glu Mobile's (GLUU) stock price has really taken a beating over the last couple of years, peaking at $13.95 in July 2007 & trading as low as $0.22 last November. As a result, and because it one of the few public pure-play mobile games publishers (and the only US one), it has become the poster child of a troubled business. But the stock price has been on the rise over the last couple of weeks and it really took off this week, opening at $0.80 on Monday and closing at $1.22 today...perhaps fueled by high hopes for their "Transformers: Revenge of the Fallen" mobile game, whichlaunched on US carriers on Tuesday (iPhone should be imminent). It also might have something to do with presentations they made earlier in the week at the Needhan & UBS technology conferences. I'm going to do some more digging and post updates.

btw 1 -- the stock is up to $1.26 in after hours trading, as of this post time.
btw 2 -- just to keep this in context, Glu's market cap is still only $36mil or 40% of 2008 this should only be considered a small "green shoot".

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