- Up in premarket trading thanks to Macquarie's defense of the company, NQ Mobile (NQ -11.8%) is diving again, as many investors remain skeptical about the company's bookkeeping and revenue streams following Muddy Waters' fraud allegations.
- Notable Calls suspects some of the selling is coming from firms that aren't allowed to hold names facing potential investigations.
- Also: SA contributor Goldbaum Research has drawn parallels between NQ and Sino-Forest (went bankrupt following a fraud scandal), and points out Chinese media has accused NQ of fabricating a partnership with smartphone vendor ZTE. Goldbaum also observes anecdotal talks and online comments point to limited Chinese public awareness of NQ.
- More on NQ Mobile
NQ Mobile gives back early gains, shares plunge below $10
Oct 28 2013, 10:53 ET