NQ’s set-up is extremely attractive right now. Several large funds are currently building positions (and have millions more NQ shares to buy), the stock is rapidly moving into strong hands that will hold until NQ is trading at MUCH higher levels, trading liquidity is now high enough to attract more large funds, NQ’s deal pipeline remains full and there are several other Chinese ADRs that are up 5x – 10x over the past 12 months (these VIPS, QIHU, SFUN, HIMX, etc. investors are just beginning to rotate into NQ now). If the equity markets hold, I would be surprised if NQ is not over $25 (and then higher) before we know it.
My $44 price target (as detailed in my most recent SA article) is not a prediction that NQ will trade there tomorrow. It is an assessment of NQ's fair value. Several other portfolio managers have come to similar conclusions....NQ is deeply undervalued and it is the next Chinese ADR that will see a sharp and prolonged move upward. As NQ announces additional distribution partnerships, the $44 price target will move up accordingly.
Long and strong. See you over $20 next...and then onto $40+.
That explains why NQ isn't stopping! This just keeps going higher day after day. Sooner or later it will need to consolidate some, but for now it just continues to impress every single day. Funny how gogs keeps praying for a miracle that isn't coming. Longs are in full control here. Thanks TH - Cheers!