Mark Holder
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Mark Holder in Out Fox The $treet,

Glu Mobile: On Watch

The soft release of mobile shooter Rival Fire places Glu Mobile (GLUU) on watch for a potential breakout. The adaptation of the wildly successful WeFire game from Tencent (TCEHY) has a dual importance.

Tencent bought a big stake in Glu Mobile last year with an initial purchase at $6. The game had an estimated 20 million downloads in Asia providing the potential for a big hit in the West for Glu Mobile. At the same time, a big hit could will lead to market speculation that Tencent will look to buy all of Glu Mobile considering the stock now trades 50% below where Tencent started buying. 

At any signs of success for Rival Fire, you will not want to pass up buying the stock below $3. 

Disclosure: Long GLUU