The Street Sweeper Is Not A Fan of Glu Mobile Inc.'s Kim Kardashian Game
Street Sweeper stated that Kim Kardashian's popularity is "beginning to drain away quicker than you can say, ‘Snap a salacious selfie!" Naturally, this is "downright depressing" news for Glu Mobile.
Shares of Glu Mobile were down 7.4 percent at $4.75 Tuesday morning.
Related Link: Danger Zone: Glu Mobile (GLUU)
According to Street Sweeper, downloads of the Kardashian mobile app have fallen in tandem with the celebrity's popularity. In early September, the app ranked 69th overall in iPhone download rankings, but has since slipped to 163rd. Street Sweeper added that they believe the app's revenue has been falling since July.
Glu Mobile last month launched "Amazing Battle Creatures," which fell "precipitously" from 79th most downloaded app in iPhone downloads to 827th in just a few days. Street Sweeper said that other Glu Mobile apps are failing to provide any support.
"If you have a hit, you're good," an analyst told Street Sweeper. "But when the hit goes away, you better find another hit or you're in trouble."
Bottom line, "Glu Mobile is looking more and more like a nearly $500 million fad that fickle retail investors will dump so they can chase the next big fad."
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