NQ reversed course on Friday after the WSJ reported an agreement from the big 4 China partners and the Chinese authorities to turn over "sanitized" audit reports of companies accused of fraud. Sorry to say that NQ is not included, since an SEC inquiry on NQ has yet to break. Then came the most outlandish rumor of a Baidu or Qihoo buy-out on Twitter. Why in the world would Qihoo buy a 3rd rate company when they have the most utilized Qihoo 360 security suite with a built-in bloatware (NQ et al) removal tool used by 70% of Qihoo browser users - or Baidu, China's leading search engine, who's already released a top mobile security app themselves (after an earlier buyout of TrustGo) with rave reviews since their May 2013 launch.
Possibly beginning of reverse trend to upward:
Getting closer to 12/23 NQ Annual Shareholder meeting: possibility of good news
Shorting is depleted
Consolidation and accumulation by longs
Sentiment: Strong Buy
NQ Mobile Inc. to Hold 2013 Annual General Meeting on December 23, 2013 11/29 06:00 AM
BEIJING and DALLAS, Nov. 29, 2013 /PRNewswire/ -- NQ Mobile Inc. (NQ:$11.75,00$-0.35,00-2.89%) ("NQ" or the "Company"), a leading global provider of mobile Internet services focusing on security, privacy and productivity, today announced that it will hold its 2013 annual general meeting of shareholders at 42/F Edinburgh Tower, The Landmark, 15 Queen's Road Central, Hong Kong, on December 23, 2013 at 2:00 p.m. (local time). Holders of record of common shares of the Company at the close of business on November 22, 2013 are entitled to receive notice of, and to vote at, the annual general meeting or any adjournment or postponed meeting thereof. Holders of the Company's American depositary shares ("ADSs") who wish to exercise their voting rights for the underlying common shares must act through the depositary of the Company's ADS program, Deutsche Bank Trust Company Americas.
The purpose of the annual general meeting is for the Company's shareholders to consider, and if thought fit, approve, confirm and ratify, to the extent necessary, (1) the amendment to Article 6 (d)(iii) of the Company's Articles of Association and (2) amendment to Section 3.1(a) of the Company's 2011 Share Incentive Plan, as previously approved by the Company's directors.
near term reversal, and a huge short position realizing they are wrong. Once the audit results are released confirming 300 million in the bank plus revenue close to what was reported there will be no time to cover 18 million short shares now that the daily volume has dropped back to the 2 million per day range. If this has been an actual fraud Price Water house would have quite more than a month ago. They did not, and they are getting close to finishing the audit.