More Delays at Glue Mobile Sabotage a Great Deer Hunt
Glu Mobile (NASDAQ: GLUU ) shares were absolutely clobbered after the third-quarter earnings report that easily beat estimates. On top of the beat, the mobile game developer increased guidance for the fourth quarter that would typically send a stock soaring. Why was the market so unforgiving this time?
The issue with Glu Mobile was twofold. The first issue was that investors had hyped up the release to the extent of expecting unreasonable guidance for the fourth quarter. The second issue and probably most concerning was the unexpected delay in the release of several titles forecasted to contribute highly to fourth-quarter numbers.
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