Glu Mobile Inc. (NASDAQ:GLUU) gets real-money gaming from Skills

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Dallas, Texas 07/02/2013 (Financialstrend) – Shares of Glu Mobile Inc. (NASDAQ:GLUU) gained by 6.33 percent to close at $2.35 on Monday. The shares had recorded an intraday high of $2.39 per share and intraday low of $2.21 per share during the day. With last trading session, shares of Glu Mobile Inc. (NASDAQ:GLUU) had 52 week high of $5.90 and 52 week low price of $1.99 per share.

Glu Mobile Inc. (NASDAQ:GLUU) markets, designs and sells mobile games.  The users of tablet devices and smart phones purchase the games of the company through their phones and direct-to-consumer digital storefronts provided by various distributors and wireless carriers. The company had published and developed casual games and a portfolio of action/adventure. Contract Killer, Contract Killer: Zombies, Eternity Warriors, Gun Bros, Men vs. Machines, Big Time Gangsta, Blood & Glory, Bug Village, Toyshop Adventures and The A-List, Super K.O. Boxing are the company’s original games. Blammo Games Inc was obtained in August 2011 and IGN Entertainment and Game Spy Technology were obtained by the company in August 2012.

Glu Mobile Inc. (NASDAQ:GLUU) recently said that a partnership with Skills to bring skill-based, real-money gaming in certain Glu games had been agreed upon. Obscene Interactive is presently preparing to provide a wide range of innovative gaming products to Glu Mobile Inc.  In 2013, the shares of this company have gained over 40 percent. The players in the United States have a chance to gain cash through one of its mobile games which would be started next month by the company. Glu Mobile Inc. (NASDAQ:GLUU) had been trading with huge volumes at 2.00 million shares on Monday, while the average level of trading in the company is only 1.35 million shares per day. With 68.26 million shares outstanding in the market, Glu Mobile Inc. (NASDAQ:GLUU) presently has a market cap of $160.40 million and an institutional ownership at 45 percent of total capital.

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