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Glu's market cap rises $150 million on strong 2014 financials and the promise of Katy Perry

Glu's market cap rises $150 million on strong 2014 financials and the promise of Katy Perry

Share prices are volatile things at the best of times.

That's particularly the case for Glu Mobile (NASDAQ:GLUU), which over the past year has experienced a doubling and subsequent halving of its share price as the market considered and then reconsidered the value of its partnership with Kim Kardashian.

In terms of headline writers, then, it's a shame the company hasn't just announced a hook up with Britney Spears.

Katy Perry - its actual announcement - is a much more current property, of course.

Nevertheless, "oops I did it again" would have made a good headline.

CEO dream

After announcing storming 2014 financials - sales up 112 percent mainly driven by Kim Kardashian: Hollywood and on the promise of the five-year Katy Perry deal - Glu's share price has risen 30 percent in a day, adding around $150 million to the company's nominal market capitalisation.

Glu's share price over 5 days

But as stated, such a bounce is something previously seen.

Taking a more longterm view by looking at an annual graph, the current situation is actually not yet extraordinary.

At one stage in 2014, the share price hit $7.60 before slowly slipping down over the next few months to find a bottom of $3.27.

Glu's share price over 12 months

The share price is now $5.02. It will be fascinating to see where it heads next.

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.

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