Defying the realities of a negative Q1 earnings preannouncement on Friday and a downgrade by...

|By:, SA News Editor

Defying the realities of a negative Q1 earnings preannouncement on Friday and a downgrade by Oppenheimer today, shares of Chinese mobile app-maker Sky-mobi (MOBI +9.3%) trade higher again this morning. After an initial sell off on Friday, the stock has soared nearly 70% without any apparent catalyst.