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Fly News Breaks for December 20, 2019
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.
News For GLUU From the Last 2 Days
Jun 3, 2020 | 22:41 EDT
Goldman Sachs, Morgan Stanley and UBS acted as joint book running managers for the offering.
Jun 3, 2020 | 14:13 EDT
Shares of Glu Mobile (GLUU) and Zynga (ZNGA) are falling 5% and 3% respectively after a Reuters report that Playtika, a mobile gaming company owned by an investor group in China, has engaged U.S. banks to to prepare for an initial public offering in the U.S . According to an earlier story from Anirban Sen and Joshua Franklin of Reuters, Playtika, which specializes in casino-themed games and operates apps for poker and solitaire, "could be valued at around $10B in the IPO." "Playtika's IPO would come amid a surge in demand for mobile gaming, as more consumers stay home during lockdowns aimed at curbing the COVID-19 pandemic,"added the Reuters story. Reference Link
Jun 2, 2020 | 19:10 EDT
Check out this evening's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to See Story Here