Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Glu Mobile (NASDAQ:GLUU) fell nearly 11% Friday after the mobile games specialist announced a new secondary offering of 8.575 million shares.

So what: Glu Mobile priced the offering at $3.50 per share this morning -- or a nearly 14% discount to yesterday's close -- so it'll gross around $30 million. Of that, Glu expects to net roughly $27.8 million, which it plans to use for working capital and other general corporate purposes, "including the acquisition of, or investment in, companies, technologies, products or assets that complement Glu's business."

Now what: Glu Mobile hasn't been shy about making acquisitions. In fact, it kicked off this month with a 10% pop thanks both to its solid first-quarter results and an agreement to acquire DASH series game-maker PlayFirst for 3 million shares of common stock. Still, the stock had already given up nearly all of its post-earnings gains going into yesterday's close, and today's pullback is certainly understandable given the additional dilution that comes with the offering.

That's not to say Glu Mobile can't put its freshly filled coffers to good use if it has another promising acquisition target in mind, but I'm personally still skeptical of the economics behind the free-to-play game space. For now, while this could be a great opportunity for bullish investors to open or add to a position, I'm opting to stay on the sidelines.

Top dividend stocks for the next decade
The smartest investors know that dividend stocks simply crush their non-dividend paying counterparts over the long term. That's beyond dispute. They also know that a well-constructed dividend portfolio creates wealth steadily, while still allowing you to sleep like a baby. Knowing how valuable such a portfolio might be, our top analysts put together a report on a group of high-yielding stocks that should be in any income investor's portfolio. To see our free report on these stocks, just click here now.

Steve Symington has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.