March 11, 2009
SpeculatingStocks.com Stock Pick: Glu Mobile, Inc. (GLUU)
Stock Price: $0.55
Glu Mobile, Inc. is a global publisher of mobile games. Its portfolio of top-rated games includes original titles Super K.O. Boxing!, Stranded and Brain Genius, and titles based on major brands from partners including Atari, Activision, Konami, Harrah's, Hasbro, Warner Bros., Microsoft, PlayFirst, PopCap Games, SEGA and Sony.
GLUU is trading at a market cap of only around $16 million and operating in the mobile application publishing market, which we expect to become a big industry in the near future. GLUU has grown revenues from $46.1 million in 2006 to $66.8 million in 2007 to $89.8 million in 2008.
GLUU is down due to their last earnings report; however, the company is restructuring and moving forward. As of GLUU's latest balance sheet, they had cash and cash equivalents of $19.1 million.
Insider purchasing of GLUU has been strong including over $29,000 of purchasing by an officer in Glu Mobile earlier this month between the $0.45 and $0.55 range.
GLUU is a relatively undiscovered stock, but moves fast on buying volume as it did earlier this year when it made a run to $0.96 from the $0.35 level.