TheStreetSweeper Cautious on Glu Mobile (GLUU)

TheStreetSweeper issues a negative report on Glu Mobile (NASDAQ: GLUU).

From the report:

• *Hopped up on hype: Glu Mobile’s stock is up on hoped-for hits and the company’s enthusiastic guidance.
• *Declining stars: Glu’s three top games drive the bulk of past and current revenues. But they are in a slow decline.
• *Recent games disappoint: New games launched so far this year are turning in disappointing numbers. And games currently in soft launch are getting surprisingly poor rankings, too.
• *Key insider selling: A director who was an original investor also manages a fund that is now dumping the majority of its shares in Glu.
• *Crazy P/E: Glu’s price-to-forward earnings is an outlandish 74, while the P/E is about 20 for two competitors and the industry as a whole.
• *Should guide lower: Overall, we expect Glu leaders will need to lower sales guidance for the third quarter and potentially the entire year.

Full Report

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