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Why Glu Mobile Stock Jumped Today

TheMotleyFool

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Shares of Glu Mobile (NASDAQ: GLUU) have jumped today, up by 10% as of 2:40 p.m. EDT, after the mobile-game maker received an upgrade when Roth Capital boosted its rating to buy.

Roth Capital analyst Darren Aftahi upgraded his rating on Glu while assigning a price target of $7 for the stock. Shares had been completely demolished in early August after Glu reported second-quarter results and drastically cut its full-year 2019 bookings outlook in part to "reflect the timing of new launches." Aftahi believes that sell-off was overdone and that the stock has been "overly penalized."

Image source: Getty Images.

Source Fool.com

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