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NQ Mobile Inc. Message Board

  • dbreed50 dbreed50 Oct 27, 2013 1:29 PM Flag

    IBD Article on NQ

    Monday 10/28/2013 IBD Article "NQ Mobile Keeps Falling After Denying Fraud Claim" includes a number of positives including Wedge Partners analyst Jun Zhang...released a report in June when NQ faced claims from a different short-selling firm.. said he stands by his report that concluded "NQ Mobile is legitimate." The article also says that NQ completed a sale of $172.5 million in convertible senior notes to Morgan Stanley and Deutche Bank Securities with an option to buy more. There's more in the article if you care to got to Investors Business Daily and read it..

    I find it hards to believe that banks such as Morgan Stanley and Deutche Bank would loan a company in the condition MW states any money much less $172.5 million. I also find it hard to believe that an analyst would double down if his report was shoddy. Bottom line I can't believe Morgan Stanley and Deutche Bank gave out $172.5 million without doing due dilligence. Unless something happens in the meantime, I think i'll put my money on them and double up monday or whenever if I can get NQ under $11. This is my gambling money and seems like a pretty good gamble to me.

    Sentiment: Buy

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    • Perhaps you should listen to the replay of the q&a session of Friday's conference call especially the part where the Deutsche Bank analyst is outright asking the company to buy back the convertible from their clients. So for the record: The banks sold the debt to their clients who are holding the bag now. As there was no real risk for the banks there wasn't any kind of due diligence before the issuance.

      Sentiment: Hold

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