Glu Mobile Inc.
|Company Name||Glu Mobile Inc.|
On August 1, 2019, post-market, Glu Mobile drastically decreased its annual bookings guidance and annual forecast. The Company’s Chief Financial Officer stated that Glu Mobile had revised its annual guidance “primarily to reflect the timing of new launches, contribution from newly launched titles and incremental UA investment to take advantage of favorable ROI opportunities."
On this news, Glu Mobile’s stock price fell $2.77 per share, or 36.5%, to close at $4.82 per share on August 2, 2019, thereby injuring investors.
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