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Some two days back, Glu Mobile Inc (NASDAQ:GLUU) made an announcement revealing that it struck a multi-year partnership with World Wrestling Entertainment, Inc (NYSE:WWE).The newly formed alliance would see the two business giants come up with a new wrestling game. According to reports, the new game will be unveiled in 2018. As a matter of fact, it will feature WWE superstars such as John Cena among others.

 Darren Aftahi, a Roth Capital analyst while recently addressing a number of top news reporters was heard reiterating a Buy rating with a price target of $3.75.This was an upside of nearly 43% in close comparison to the exact place the shares were during the closing period.

In a recent board meeting, Aftahi exuded great confidence in the new partnership citing that it would most probably bring a long a wide range of desirable benefits.

The top analyst added, “We are optimistic about the accretive potential that the WWE game could contribute to FY18 bookings given GLUU‘s recent success of TSB and the loyal fan following the WWE trademark brings with it.”He thinks the sports game announcement brought with it immense confidence in its FY18 bookings estimates of ~$318M.

Aftahi has provided a number of updates regarding Glu’s upcoming game release schedule. Beta form of Car Town Racing will be launched in Malaysia in weeks to come. After another three months, reports indicate that it will be unveiled globally if things go according to plan. The analyst is currently looking forward to the unveiling of the Taylor Swift game and a zombie shooter game.

According to Yahoo, Glu Mobile Inc has lately been focusing in the creation of more consistent revenue streams. To achieve its goal, the provider has been setting up platform-type games in order to earn repeatable, predictable revenue .It has channeled a lot of resources into carrying out numerous updates to its existing games. The employment of better graphics and the advanced game-play are some of the things the top end provider is counting on towards giving a lift to its in-app purchases.

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Steve Kanaval
Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.