UPDATE: Glu Mobile (GLUU) Drops Below $4 Level on Volume; AOL's New Games.com May Provide Threat
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(Updated - October 9, 2012 10:18 AM EDT)
Glu Mobile, Inc. (NASDAQ: GLUU) shares are getting slammed Tuesday on strong volume.
UPDATE - News could be related to an AOL (NYSE: AOL) announcement earlier today, which was the launch of an expanded Games.com.
AOL touted that the new Games.com will be more focused cross-platform capability, with a constant experience when accessing from a computer, a tablet, or a smartphone.
For more color on AOL's announcement, click here.
Shares made a modest 1.7 percent rise Monday on news it was entering a partnership with Probability PLC for mobile gambling.
Today, the stock is down over 15 percent as it shows continued weakness below the $4 price level.
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Glu Mobile, Inc. (NASDAQ: GLUU) shares are getting slammed Tuesday on strong volume.
UPDATE - News could be related to an AOL (NYSE: AOL) announcement earlier today, which was the launch of an expanded Games.com.
AOL touted that the new Games.com will be more focused cross-platform capability, with a constant experience when accessing from a computer, a tablet, or a smartphone.
For more color on AOL's announcement, click here.
Shares made a modest 1.7 percent rise Monday on news it was entering a partnership with Probability PLC for mobile gambling.
Today, the stock is down over 15 percent as it shows continued weakness below the $4 price level.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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