Seeking Alpha

NQ calls Muddy Waters allegations "false,"

  • NQ Mobile (NQ -47.2%) has issued a brief statement about the detailed fraud allegations provided in Muddy Waters' report. The Chinese mobile app developer calls the allegations "false," and says it will provide "a more detailed response" before the market's Friday open.
  • Shares remain halted after crashing in response to the report.
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Comments (12)
  • Goldbaum Research
    , contributor
    Comments (25) | Send Message
     
    I hope no one here bought NQ because of the articles from Toro or Treasure Hunter. I have a strong suspicion they are among those compesated by NQ or related parties to promote their stock.
    24 Oct 2013, 04:59 PM Reply Like
  • Justin Giles
    , contributor
    Comments (1781) | Send Message
     
    I hope people would be more professional in life and didn't bash people before getting all the info first. Yes, Investors should always do due diligence before investing....however, calling people out is a little ridiculous!
    24 Oct 2013, 05:48 PM Reply Like
  • New Low Observer
    , contributor
    Comments (2150) | Send Message
     
    Hi JG,

     

    All the info comes in when the stock goes private, gets acquired or goes bankrupt. Until then it is an open dialogue, as made clear by (NQ)'s intent to have a response before market open the next day.

     

    Regards.
    24 Oct 2013, 06:14 PM Reply Like
  • Justin Giles
    , contributor
    Comments (1781) | Send Message
     
    NLO,

     

    I know what you mean. I just find it ridiculous when people start dogging on others and make assumptions that SA authors are getting paid by companies etc.

     

    On another note I'm looking forward to what happens going forward between NQ and Muddy Waters. Have a nice day!

     

    Justin
    24 Oct 2013, 06:23 PM Reply Like
  • The Investment Doctor
    , contributor
    Comments (1228) | Send Message
     
    Broker Canaccord was also lyrical about NQ Mobile (that's where I first heard about NQ, in one of their notes in March) ;) So if it's a scam, some major financial institutions got caught off-guard!
    24 Oct 2013, 06:30 PM Reply Like
  • Justin Giles
    , contributor
    Comments (1781) | Send Message
     
    I wonder what MS, DB are thinking after the $172 bond offering they did last week. Crazy stuff!
    24 Oct 2013, 06:33 PM Reply Like
  • The Investment Doctor
    , contributor
    Comments (1228) | Send Message
     
    Haha, indeed!
    24 Oct 2013, 06:49 PM Reply Like
  • BudH
    , contributor
    Comments (401) | Send Message
     
    I think the first dude is probably correct. Given the new information from Muddy Waters. How could supposed expert writers get it so wrong?
    24 Oct 2013, 08:23 PM Reply Like
  • Zeus2012
    , contributor
    Comments (707) | Send Message
     
    A lot of people got Sino Forest wrong, including John Paulson as well as Wells Fargo. Not saying that NQ is Sino Forest but I would not touch this - why would anyone given the abundant speculative opportunities out there.
    24 Oct 2013, 11:29 PM Reply Like
  • qrc3288
    , contributor
    Comments (478) | Send Message
     
    To those criticizing Goldbaum, look at Treasure Hunter's articles. He has heaps of information, frankly some of which is not disclosed publicly by NQ themselves. He apparently knows which funds are buying the stock and when. He hints at upcoming announcements.

     

    True he could be someone just really caught up in the story that NQ has pitched, and they fooled him good (if indeed MW's accusations are accurate). However, it's a legitimate question Goldbaum is asking here because of how Treasure Hunter was pitching the stock, how much information he had about the company, and how he would forcefully respond to people who had a different opinion. I never had the guts to ask anything critical over there because critical questions were usually met with "you don't know anything about investing" or something to that regard.
    25 Oct 2013, 02:03 AM Reply Like
  • justin L
    , contributor
    Comments (27) | Send Message
     
    thank god i got out at 21.50, NQ became very suspicious to me when their android apps list their stock ticker right next to the app name. Wish everyone best of luck. Crossing my finger
    25 Oct 2013, 12:54 AM Reply Like
  • BudCash
    , contributor
    Comments (2) | Send Message
     
    How did these major financial institutions and big investors get it wrong?? or did they get it wrong? :)
    25 Oct 2013, 01:50 AM Reply Like
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