One way to front run the Zynga IPO is to buy some shares in Glu Mobile (GLUU), a leading global provider of 3D social mobile games for smartphones and tablet devices. What's great about this stock is that it's already trending in the right direction ahead of the Zynga IPO, with shares up over 140% so far in 2011.
This is a small-cap company with a current market cap of around $274 million, and it's cash-rich with over $24 million in cash on their books and zero debt.Things are going very well at Glu Mobile, which just raised its second-quarter revenue guidance to $16 million to $17 million, up from the previous range of $15 million to $16.5 million. Smartphone revenue was raised to $8.25 million to $8.75 million, up from the previous range of $7.25 million to $8.25 million. From a technical standpoint, traders should watch for a breakout if shares of Glu Mobile can manage to close above $5.25 to $5.50 a share on heavy volume. Look for volume that's well above the three-month average activity of 1.9 million shares. The stock was very close to confirming a major breakout on Thursday when it closed at $5.10 on 10.8 million shares traded. It's worth pointing out that Glu Mobile has a reasonable short interest; the current short interest as a percentage of the float stands at around 9.2%. Look for that breakout I mentioned above and simply place a stop slightly below those areas if we get it anytime soon.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV