NEW YORK (TheStreet) -- Shares of Glu Mobile (GLUU) - Get Report were dropping mid-Wednesday afternoon after the company announced a $500,000 acquisition of Poke Radar, a community-run app for the Pokemon Go game.
Glu Mobile's acquisition follows the success of Nintendo's (NTDOY) Pokemon Go online gaming app released earlier this summer.
Poke Radar uses information submitted by Pokemon Go players to help its community improve performance in Nintendo's gaming app.
In the deal, Glu acquired all assets associated with the Poke Radar app, which is available for Apple's (AAPL) iPhone, iPad and iPod.
Glu Mobile is a San Francisco-based free gaming developer.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: GLUU