That if someone talks about GLUU going downward, like he does himself, he has to jump in his cage and bite.
It's probably because he has been for so long on this board, like a retard in the same degree for years in high school, that bullying is his only way to get out his frustration.
"Glu Mobile Inc. (GLUU), a leading global developer and publisher of freemium games for smartphone and tablet devices"
A leading global developer, and I look at the ridiculous annual revenue of $94M after 9 years of existence, not talking about the mountain of losses, I cannot stop laughing. No surprise, they offer "freemium"...
GLUU is a flea in the world of mobile, not even a fly that you can hear buzzing.
About the same revenue as a convenience store selling gas, with profit as big as the hole of a doughnut, this in the mobile world with hundreds of millions of smartphones, this looks so good! As good as RadioShack or BestBuy in the retailer business.
"The stock is a good speculative play since it is in a growing segment (mobile gaming). "
GLUU is in a growing segment for years, but their revenue suck for at least four years. If you are excited by going from $89M revenue in 2008 to $94M in 2012, then you must be excited by watching paint peeling.
Analysts, blog commentators, etc. keep saying how great GLUU is, in particular compared to competitors, all with a higher price target, still the stock stays in the basement. A typical pump and dump, aimed at attracting gullible small investors.
iPhone improved, iPad improved (though no new mini-iPad yet), etc. But where are the brand new innovative products?
The only reason why Apple has been able to fly to the stratosphere was with its innovative products. But now it looks like a Tide improved company, with no completely new product on the rumor mill anymore for this Christmas.
The biggest market cap on the planet for how long?
Why, you think that paltry revenue in a growing sector, a loss of $3M, and no hit games should push the stock to the stratosphere? Obviously in your world, the lousy the numbers, the higher the reward.
The CFO wrote that he would adjust (fudge) the numbers to make it breakeven in the last quarter of the year, whenever the games are a hit or not.
Very reassuring to have that kind of management to play with your money. He must have a very big bonus linked to that achievement.
"Catch the Falling Knife".
Since July, when the price of the game was $5.90 to now around $3, a lot of people tried it. The rules are simple: Get too soon and you lose limbs. Get way too soon and you get killed.
A rule of thumb: Playing with knives is always dangerous, sometimes mortal.
From total revenue of $89M in 2008 to $94M in 2012, or an increase of $5M over 5 years. A complete joke. This in a sector, mobile, that has exploded in the number of devices.
If you are out of fashion with most of your clothes collection for a season, you're doomed.
It takes months to solve the problem, not days.
The CFO may try to fudge (adjusted) the numbers as much as he can or want, it won't make their games more popular.
Looking at the volume in the last few days, obviously institutions have enough of being a laughing stock at being in this laughable stock.
A good thing that little investors cannot get enough of the loser, otherwise it would plunge even more drastically.
In the last year, some thought that with smartphones selling like cup cakes all over the world, there would be gold for any company involved with them. Only to discover that people paying higher and higher monthly fees for their connection, they wouldn't be willing to pay that much for little games and all the extras that Gluu and other game makers are trying to sell with it.
Gluu had plenty of time to prove what they could do, the results are dismal, on all accounts. Slowly but surely they will eat their cash and will have to come back with more dilution with a secondary offering. Luckily for them, the top management will continue to make money, get options on the cheap, and vest them to make more. Shareholders will continue to wait their turn at the slaughterhouse.
"However, we will manage the business to be Adjusted EBITDA break-even or better for Q4."
Translation: We will fudge the numbers by some accounting tricks so our prediction will come through. Because they said in the same press release that they didn't know at this point how their games would fare in the 4th quarter....
Confirming an article published recently : "Now, another study just out further undermines our confidence in the investing world: Researchers at the business schools of Emory and Duke universities came to the conclusion that "in any given period, about 20% of firms manage earnings to misrepresent their economic performance."
And he is right.
Being in October, the 3rd quarter is finished and he knows with certainty the numbers: close to the low end of the range of losses ($3.1M - $4M), he said.
Youppie! Another loss! How exciting! This when smartphones are outnumbering regular cell phones, hundreds of millions of devices, this when GLUU's specialty is supposed to be mobile for a long while, this from the company who says they are among, if not, the leader in the field.
All this to show a paltry $20M and something in revenue? With losses? This must be a joke, a real bad one.
And now his firm stance of breakeven point for 4th quarter is starting to wobble, unable to confirm what he said weeks ago, what a a douche.
No surprise if the stock price is going nowhere except downward.
Several weeks ago he said that he could see both the third and the fourth quarter, with the latter at a breakeven point. Now, he pretends that he cannot see that far (4th) and he needs more time to talk about it. Typical CEO playing number games. Like the Alcoa CEO who, for more than a year, is saying he's optimistic about their business, but their revenue is going nowhere, even less their earnings.
At playing that kind of games, these CEOs lose all credibility. No surprise if their stock are languishing in a crater.
The company has forecast a loss for this quarter (3rd). And breakeven for 4th quarter. All of this with boosted adjusted and non-Gaap numbers.
A big drop in the price with a huge volume of over 18M shares, compared to an average daily volume of over 2M. Anyone who doesn't see this as a bad signal should remove his or her sunglasses.