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While Glu Mobile (GLUU) is still struggling at a breakout above $10, the company has made a couple of significant announcements hinting at a bright future ahead. The mobile game developer raised the guidance for Q2 while also raising funds for a potential acquisition. My investment thesis is bullish on the stock, but the chart suggests a struggle pushing through resistance here as the market rolls out of the stock benefiting from stay-at-home orders.
Bookings Boost
Back on May 29, Glu Mobile boosted Q2 bookings by $12.5 million to $165.0 million at the midpoint. The