Glu Mobile flies higher amidst fresh Microsoft buyout speculation

|About: Glu Mobile Inc. (GLUU)|By:, SA News Editor

Glu (GLUU +9.2%) shares have spiked higher, and Microsoft buyout rumors are reportedly the trigger. A certain announcement made by the software giant this morning could be a factor.

23% of Glu's float was short at the end of July, and a lot of those shorts have sizable paper profits. The money-losing mobile game developer ($170M market cap) has previously been the subject of M&A chatter featuring Microsoft, Zynga, and others.