Updated from 4:13 p.m. to include additional information on GT Advanced Technology.
NEW YORK (TheStreet) -- Glu Mobile (GLUU - Get Report) may be losing its grip on attracting users to its Kim Kardashian: Hollywood mobile app, according to a Street Sweeper report. That assessment apparently sent Glue Mobile's shares in a tailspin, falling 7.31% to $4.76 at the close.
In giving its assessment, the publication noted that the app has plummeted to No. 163 on its iPhone download rankings from No. 69 just last month. That, in turn, translates into a drop in revenue, which Street Sweeper estimates has been going on since mid-summer.
That may leave investors wondering if this is another version of the Kim Kardashian wedding scheme. For those who haven't been following the reality show superstars the Kardashians, Ms. Kardashian filed for divorce from basketball notable Kris Humphries only 72 days after the their closely watched $10 million wedding.
GT Advanced Technologies (GTAT) soared 52.5% to $1.22 at the end of the session.
Just one day after Apple supplier filed for Chapter 11 bankruptcy, shares in the sapphire glass maker have soared. This has taken the company from being a penny stock yesterday to moving into the dollar range.
GT Advanced Technologies faced challenges after increasing production of its sapphire glass that Apple uses in some of its products. But when Apple opted to use a different glass in its iPhone 6, other than sapphire, GT's investment in its increased glass production took a hit.
Investors apparently were concerned with a a decision by the European Union's anti-trust agency to open a formal investigation into the company's handling of its European corporate income tax. The EU is focusing on whether Amazon and the Luxembourg government had a special state aid arrangement, which could possibly give the e-commerce giant an edge over its competitors.
Amazon is not alone in the EU's crackdown on multinational companies that the government suspects is shifting its profits and expenses around between countries. Apple (AAPL - Get Report) is another tech company facing a similar investigation.
At the time of publication, the author held no positions in any of the stocks mentioned, although positions may change at any time.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.