Glu Mobile easily soared past Q1 estimates, but the stock plunged on guidance.
The updated guidance shouldn't have surprised anybody watching the performance of existing games.
The stock remains an extreme bargain when it dips down close to $2 considering the cash balance, revenue streams, and IP.
After reporting Q1 results, Glu Mobile (NASDAQ:GLUU) traded down 15% as the market was somehow disappointed with so-called weak guidance. Considering the mobile game developer had a series of disappointing game releases before the recent success of Tap Sports Baseball 2016, one has to wonder about how the company disappointed any realistic expectations going into results.