On May 28, we highlighted opportunity in Glu Mobile (GLUU).
At the time, the stock traded at $8.88. It’s now up to $10.10, and rising after the company said it expects Q2 bookings in the range of $162.5 million to $167.5 million. That’s up from prior guidance of $150 million to $155 million.
Nick Earl, CEO, said, “Since our recent first quarter report and earnings conference call, we’ve seen significant momentum in the business and broad-based growth across our live game portfolio driven by successful live operations execution and continued positive industry trends. Our three Growth Games, along with Diner DASH Adventures, Kim Kardashian: Hollywood and Disney Sorcerer’s Arena, are performing above our expectations, with several setting new records for daily bookings along the way. These positive trends are driving increased scale and better than anticipated flow through to the bottom line. This gives us confidence in raising our expected financial outlook for the current quarter and full year.”
As for new opportunities, take a look at Zynga (ZNGA).
The gaming stock is exploding even higher on news its buying Peak for $1.8 billion. According to Bloomberg, “The Peak deal will bring Zynga a popular lineup of puzzle games called Toon Blast and Toy Blast. The company is making the acquisition at a time when its business is booming, fueled by consumers staying at home with few live-entertainment options.”
The acquisition is also expected to boost Zynga’s average users by 60% and help expand its international audience. With plenty of gaming demand around the world, we wouldn’t be shocked to see the ZNGA stock double over the next few months.
