Seeking Alpha

NQ Mobile +10.8% on annual report filing rumor

A rumor that NQ Mobile (NQ) will soon file its delayed annual report (expected to be accompanied by an audit report) has led shares to surge above $7. A NQ spokesperson tells Bloomberg the company has no new information on the report for now.

This is a good time to remember 14.4M shares were shorted as of June 13.

Last Friday: NQ Mobile makes fresh 52-week lows

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Comments (5)
  • LT-Investor
    , contributor
    Comments (64) | Send Message
    49% of the floated shares are sold short. Imagine the reaction when the 20-F is filed, should be very soon. Company is already priced as fraud.
    2 Jul 2014, 12:25 PM Reply Like
  • Mosbear64
    , contributor
    Comments (164) | Send Message
    Indeed, I have 2 people on the ground in China and they confirm that this rumor was swirling around Beijing starting early morning today their time.. the rumor started in Beijing.. perhaps a leak from a junior employee who does not understand securities law..
    2 Jul 2014, 12:41 PM Reply Like
  • Energysystems
    , contributor
    Comments (1807) | Send Message
    Solid reporting from your people on the ground.
    3 Jul 2014, 09:34 AM Reply Like
  • red-bull
    , contributor
    Comments (113) | Send Message
    short was so nerves even it was rumor
    2 Jul 2014, 06:43 PM Reply Like
  • qrc3288
    , contributor
    Comments (491) | Send Message
    @red-bull...yes, shaking in our boots.
    3 Jul 2014, 09:37 AM Reply Like
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