GLUU - This Expensive Growth Stock Can Keep Running Higher
Glu Mobile (NASDAQ: GLUU) has turned out to be a winner this year as COVID-19-related shutdowns and shelter-in-place orders have confined people to their homes to contain the spread of the disease.
The mobile gaming specialist delivered a solid set of results in early May along with attractive guidance, and it hasn't taken long for the company to upgrade its expectations. Glu Mobile recently enhanced its bookings guidance for the second quarter of 2020. It now anticipates 62% growth in bookings this quarter, according to the mid-point of its new guidance range.
What's more, Glu now expects full-year bookings in the range of $502.5 million to $512.5 million, as compared to the original 2020 bookings guidance of $423 million to $433 million. So, it won't be surprising to see Glu Mobile maintain its status as a top growth stock thanks to its terrific business momentum. But is the stock still worth buying considering its red-hot run on the market so far this year?