It's not the first time we've been intrigued by fluctuations in Glu Mobile's (NASDAQ:GLUU) share price.
After all, the publisher has been restructuring for over two years, and suffering from declining sales and quarterly losses during that period, which has seen its share price hammered.
At such low levels, any percentage changes in price seems much higher.
Still, the arrival of new CEO Niccolo De Masi at the start of 2010 has steadied the ship, with a $13.5 million refinancing deal sorted out during the summer, and the successful launch of the company's new freemium games - notably Gun Bros.
On the up
And perhaps for those reasons, the current rise seems more significant compared to the last leap in its share price in May 2010.
For one thing, Glu share price has now been around or over the $2 mark for two months. The start of 2011 has seen it over $2.50 - that's the best since September 2008.
At time of writing, it's $2.64, slightly off its $2.77 peak earlier in the week. This values the company at $118 million.
Buyer or seller
Of course, share price speculation often focuses on the potential for a company to be bought. With M&A activity in this sector expected to increase in 2011 on the back of deals such as DeNA's ngmoco acquisition, and EA's of Chillingo, this could be possibility.
More likely though, it's a mark that investors hope Glu has finally turned the corner, even though it predicts an annual loss of $15.5 million and $15.9 million for 2010.
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
Apr 27th, 2024
PocketGamer.biz Podcast Week in Views E09 - Supercell's Squad Busters goes global, Embracer Group splits, and Apple's Vision Pro flops
News
Apr 26th, 2024
Week in Views - Squads busted, Apple crushed, War zoned and Snoozin' with the Snorlax…
Feature
Apr 26th, 2024
Speaker Spotlight: Dubai Future Foundation's Faisal Kazim on leading Dubai's gaming charge
Events
Dubai GameExpo Summit 2024 | Middle East | May 1st |
The MENA Games Industry Awards 2024 | Middle East | May 2nd |
GameDev Atlantic 2024 | May 4th | |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Develop: Brighton 2024 | Europe | Jul 9th |
Popular Stories
News
Apr 23rd, 2024
Supercell’s Squad Busters soft launches today with over 100,000 Google Play downloads
News
Apr 23rd, 2024