Toro Investment Partners
Long/short equity, value, special situations, contrarian

Share Repurchase And Atlantis Investment In NQ Mobile Signal A Turn

Yesterday, 7/2/2013, NQ Mobile (NYSE:NQ) (or "the Company") made two important announcements at once. First, the Company disclosed that Atlantis Investment Management Ltd ("Atlantis"), one of Hong Kong's largest asset management firms, with an industry-leading track record dating back to 1994, had purchased one million ADSs in the month of June in the open market and would purchase 1.5 million additional shares directly from the Company through a new issue. Second, NQ announced that the previously approved $20 million share repurchase plan had been extended to $35 million in total.

We consider these announcements significant not simply because they scream "Value!"

To us, they signal a turn.

Recently, we published an article that provided an investment thesis update...

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