Seeking Alpha

Toro Investment ups NQ Mobile stake

  • 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.
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Comments (7)
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
     
    good luck
    11 Dec 2013, 04:46 PM Reply Like
  • Fundy
    , contributor
    Comments (115) | Send Message
     
    The question is where the valuation would lie today had the MW article not been released. Nearly all points made by MW have been successfully refuted, expecting strong 4Q results, Toro follow up coming soon, and most likely positive audit results, all in the next two months. This stock should, at the very least, rise to $15.00 in the next two months. Given the big dip today, it is a smart decision to buy if you have looked through the fundamentals and believe the business is legitimate. The cash they claimed exist does exist, their partnerships with giants like Samsung are valid, and they have real products. The chances of MW accusations being correct are next to nonexistent at this point.
    11 Dec 2013, 07:28 PM Reply Like
  • AgileDave
    , contributor
    Comments (169) | Send Message
     
    Waiting for their report and for the audit are like waiting for Santa - excruciating! I'm buying the dips.
    11 Dec 2013, 07:44 PM Reply Like
  • zorrba
    , contributor
    Comments (430) | Send Message
     
    LOL ready a few other SA articles.
    12 Dec 2013, 04:40 AM Reply Like
  • jsIRA
    , contributor
    Comments (2973) | Send Message
     
    Hope to see stock to re-visit recent low of 7.47 to buy it back.
    11 Dec 2013, 09:58 PM Reply Like
  • zorrba
    , contributor
    Comments (430) | Send Message
     
    Notice Toro deliberately did not disclose *how many* share of NQ it bought. The reason is that they bought so few, it would be embarrassing to disclose.
    *One* would not surprise me as this is just propaganda stunt by Toro.
    12 Dec 2013, 04:51 AM Reply Like
  • Alan1967
    , contributor
    Comments (238) | Send Message
     
    Question here.

     

    When Toro was added as an advisor to the board of directors was he given any shares in that role?

     

    If yes, (and I'm not implying anything here because I don't know) would those share go to him personally or to his company.

     

    He wrote an article back in December that defended NQ and through is company brought in many investors.

     

    Where do those investors stand today? Where does he stand with the company? Was he granted stock as part of his role as an advisor to the board?

     

    Again I'm just seeking the truth here. We need some transpefency regarding NQ and all of it's insiders.
    3 Jul 2014, 12:51 PM Reply Like
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