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: Thanks in part to the runaway success of its Kim Kardashian: Hollywood game, shares of Glu Mobile (NASDAQ:GLUU) jumped another 10% Monday.

So what: According to mobile app data analytics specialist App Annie, Kim Kardashian: Hollywood is currently the No. 1 most-downloaded free iOS app, and the No. 5 highest-grossing app based on estimated in-app sales. To be sure, Cowen analyst Doug Creutz even raised his per-share price target on shares of Glu Mobile to $10 from $6, saying the game could potentially help boost Glu Mobile's revenue to over $200 million this year -- a solid jump from Glu Mobile's 2014 guidance provided back in April, which called for for adjusted revenue between $155 million and $161.5 million.  

Now what: Kim Kardashian: Hollywood isn't Glu's only hit: Less than a week ago, Glu announced the July 10 release of Dino Hunter: Deadly Shores had "quickly achieved the No. 1 Top Free App ranking on the App store for iPhone in nine countries and set company records for global single-day downloads." And today's pop builds on an impressive rally month-long rally, which began when Glu Mobile announced that two of its most popular games -- Deer Hunter and Eternity Warriors 2 -- were already available for Android TV, giving the company a perfect avenue to expand its reach beyond just the mobile market. 

Over the long term, whether Glu Mobile can continue churning out huge hits like these remains to be seen. But over the near term -- and even with shares of Glu Mobile trading around 4.4 times trailing 12-month sales, and 47 times next year's estimated earnings -- I won't be the least bit surprised if Glu Mobile continues its upward rise.