What's going on at publisher Glu Mobile (NASDAQ:GLUU)?
Last week, its share price rose and dropped like a pogo stick.
Indeed, the whole of April has seen strong performance with its shares up from just over $1 to peak at over $1.50 on several occasions.
Most recently, they jumped by 25 percent, ending the week at $1.48.
One reason this is interesting is if it signifies there's a takeover on the cards. Currently Glu's market cap is $46 million so it's not a particularly cheap target.
New regime
The other interesting aspect is that on Tuesday 4 May, it's about to announce its first quarter figures since new CEO and president Niccolo de Masi took over at the start of 2010.
This matters because the loss-making company is in the midst of transitioning from its old Java and Brew business to the fast-growing smartphone market of iPhone, BlackBerry, Android etc.
Most analysts seem to think there will be a revenue gap inbetween; hence the assumption that the Q1 2010 figures might not be very good.
Which is an issue as the company ended 2009 with a cash and cash equivalents balance of $10.5 million, and $4.7 million outstanding on its credit line.
During 2009, it lost $18.2 million.
Glu will announce its figures when the NASDAQ closes on 4 May, with an analysts' call starting 1.30 pm PST, and available as a webcast from its investors website.
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Top Stories
News
May 8th, 2024
Q4 2024 was EA’s strongest for mobile, but it still only earned them $307 million
News
May 8th, 2024
Krafton teases AI-developed games as "limited" voice actors, writers, and level designers get the boot
Feature
May 7th, 2024
Mobile Mavens: The industry has its say on Squad Busters ability to draw in “untapped audiences” with its “influence from a range of genres”
Feature
May 7th, 2024
Hot Five: Supercell’s Squad Busters supremacy, Brawl Stars bounces back, and a games industry journey at King
Feature
May 7th, 2024
April 2024 mobile game charts: Call of Duty: Warzone Mobile loses launch momentum and Brawl Stars’ astronomical rise
Events
Valencia Indie Summit 2024 | Europe | May 16th |
Digital Dragons | Europe | May 19th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
Future Games Show 2024 | Jun 8th | |
PC Gaming Show 2024 | Jun 9th | |
WN Conference Istanbul 2024 | Jun 11th | |
DevGAMM Vilnius 2024 | Europe | Jun 14th |