Toro Investment ups NQ Mobile stake

|About: NQ Mobile Inc. (NQ)|By:, SA News Editor

The chief investment officer of Toro Investment Partners discloses his firm has upped its NQ Mobile (NQ -4.6%) stake since Nov. 12. Toro, which has written bullish SA columns about NQ more than once, disclosed a 5% stake in the Chinese mobile software vendor on that day.

Though closing sharply lower on a down for equities, NQ managed to recoup a decent chunk of the morning losses it saw after SA contributor Robert Zangrill questioned the company's financials and accused it of "round tripping" revenue.