Shares of Glu Mobile (GLUU) Rally 8.94%

Glu Mobile (GLUU) : Traders are bullish on Glu Mobile (GLUU) as it has outperformed the S&P 500 by a wide margin of 6.64% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.33%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.94% in the last 1 week, and is up 11.3% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 10.49% and the 50-Day Moving Average is 9.45%.

Glu Mobile (NASDAQ:GLUU): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.50 and $2.45 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.58. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.56, notching a gain of 2.81% for the day. The total traded volume was 2,405,316 . The stock had closed at $2.49 on the previous day.


The company Insiders own 4.8% of Glu Mobile shares according to the proxy statements. Institutional Investors own 34.16% of Glu Mobile shares. In a related news, Mather Ann, director of Glu Mobile Inc, unloaded 25,000 shares at an average price of $2.36 on June 2, 2016. The total amount of the transaction was worth $59,000, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Glu Mobile Inc. develops, publishes and markets a portfolio of games. The Company offers games to a cross section of users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts, such as the Apple App Store, Google Play Store and Amazon Appstore, among others. The Company creates games based on its own brands, including Blood & Glory, Contract Killer, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros and Heroes of Destiny. The Company also creates games based on third-party licensed brands, including Kim Kardashian: Hollywood, Robocop: The Official Game, and Hercules: The Official Game, as well as its own branded games that incorporate third-party licensed brands, properties and other content, such as Racing Rivals and Tap Sports: Baseball. It released around 16 free-to-play games. It has around eight global studios that create and develop its games.

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