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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

11 Stocks That Could Soar Off Zynga's IPO

Glu Mobile

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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.

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