GLUU - 5 Reasons I Just Bought Glu Mobile Stock
Glu Mobile (NASDAQ: GLUU) stock has seen volatile swings across 2020's trading. The company's share price is up roughly 22% year to date, buoyed in part by heightened engagement for video games amid coronavirus-related social distancing and shelter-in-place initiatives. However, the stock also trades down more than 30% from its 52-week high following an unexpected loss in the second quarter. It guided for weaker bookings growth in the third quarter, announced a delay for an upcoming game, and hinted at a potential cancellation for another in-development project.
Now, the company is set to publish Q3 results on Thursday, Nov. 5. Here's why I added to my holdings in the company ahead of the earnings release and why I expect that investors who buy the stock at current prices will enjoy strong returns.
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5 Reasons I Just Bought Glu Mobile Stock