GLUU - This Growth Stock Trading Under $10 Is Worth Buying Right Now
Glu Mobile's (NASDAQ: GLUU) hot rally came to a grinding halt after the company's second-quarter results in early August failed to match Wall Street's expectations. The mobile gaming specialist reported a big quarterly loss instead of an expected profit, while revenue also fell substantially short of consensus estimates.
Investors were quick to press the exit button, and Glu stock plunged big time, which wasn't surprising as it had become expensive of late. But there were several positive takeaways from the company's quarterly results that shouldn't be ignored as they point to Glu being able to get back on track once again.