Our current trading idea Glu Mobile had a strong week, judging from our most recent ranking check. Its games have been climbing impressively in the top grossing charts around the world.
As of today, Glu Mobile has 10 top 10 grossing ranks and 114 top 100 grossing ranks. As usual, We are screening the app markets of Australia, Canada, China, France, Germany, Italy, Japan, Netherlands, Russia, South Korea, Spain, Sweden, UK and USA.
Number of Glu Mobile games among the top grossing charts for iOS:
Interestingly, looking at Glu Mobile’s recent share price development, one could expect quite the opposite, i.e. that the company is NOT doing all that well with its games. Well, guess what? The market is wrong, once again. As you can see in the chart below, Glu Mobile’s share is down some 34% over the last 3-months period.
We have talked about it before, the main culprit was weak numbers and comments from Zynga which started a general fear around gaming companies. Our readers know of course that gaming on Facebook (Zynga) and mobile gaming (Glu Mobile, G5 Entertainment) are completely different things. With the strong performance of Glu Mobile’s games recently, we see no reason why its share should not revisit the levels of >USD 5 in the near future.