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Fly News Breaks for December 20, 2019
GLUU
Dec 20, 2019 | 08:43 EDT
Roth Capital analyst Darren Aftahi says recent checks suggest that Disney Sorcerer's Arena has begun its beta launch in Canada. This coincides with Glu Mobile's CFO last week announcing that the game would begin testing in Canadian beta in the next two weeks, Aftahi tells investors in a research note. The analyst believes that in order for the game to correlate well with potential U.S. success, it would need to rank consistently in the top 50 in the Canadian app store. He continues to believe Glu Mobile must prove it can successfully create in house games in order to get the stock continuing upwards. Aftahi keeps a Buy rating on the shares with a $6 price target.
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