Recent numbers released by the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers show that online advertising in the U.S. totaled a record $9.6 billion in the first quarter of 2013, an increase of 16 percent year-over-year. The rapid growing popularity of tablets and smartphones has caused mobile advertising revenues in the U.S. to skyrocket last year. According to the IAB, mobile ad revenues totaled $3.4 billion in 2012, an increase of 111 percent when compared to 2011. Mobile’s market share of total digital revenues grew from 5 percent in 2011 to 9 percent in 2012.
Glu Mobile Inc. (NASDAQ: GLUU) shares traded in the range of $2.43 to $2.59 Wednesday before settling to close at $2.44, a decrease of 5.79 percent.The stock appears to be facing resistance at the $2.45 and 2.50 levels. The company recently announced a partnership with Skillz to introduce skill-based, real-money gaming in certain Glu games. Shares of Glu Mobile have gained over 40 percent so far in 2013.
More information on Glu Mobile and access to the free equity report can be found at: www.WallStreetFundamentals.com/GLUU
Millennial Media, Inc. (NYSE: MM) shares traded in the range of $7.94 to $8.36 Wednesday before settling to close at $8.02, a decrease of 2.91 percent. The stock appears to have some resistance at $8.36 with support at $7.55. The company is a proven mobile advertising and data platform that has prided its services to 85 of the top 100 Ad Age advertisers in 2012. Shares of Millennial Media have fallen approximate 35 percent so far in 2013.
More information on Millennial Media and access to the free equity report can be found at: www.WallStreetFundamentals.com/MM
Velti Plc (NASDAQ: VELT) shares traded in the range of $1.71 to $1.78 Wednesday before settling to close at $1.75, an increase of 1.45 percent. The stock appears to be facing stiff resistance at $1.95 with some support at $1.58. As the largest mobile marketing provider listed on Nasdaq, Velti reported $189.2 million in revenue for fiscal year 2012. Shares of Velti have fallen over 60 percent so far in 2013.
More information onVeltiand access to the free equity report can be found at: www.WallStreetFundamentals.com/VELT
Zynga Inc. (NASDAQ: ZNGA) shares traded in the range of $2.85 to $3.05 Tuesday before settling to close at $2.87, a decrease of 5.90 percent. The stock appears to be facing resistance at $2.96 with some support at $2.84. The company reported advertising revenues were $34.0 million for the first quarter of 2013 a year-over-year increase of 21 percent. Shares of Zynga are up approximately 21 percent so far in 2013.
More information on Zynga and access to the free equity report can be found at: www.WallStreetFundamentals.com/ZNGA
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