And another thing, who are these "contributors" that we have never seen before that are coming in a suddenly starting this specific discussion with this particular spin on it? Seems a little odd to me.
Sentiment: Strong Buy
This audit is extremely important to a lot of people, NQ and investors alike. Forensic audits take an average of 3-5 months. In addition, timing is critical. The multiple hedge funds and investment houses that have taken up positions or increased positions in NQ have done more DD then the auditors, for sure. They also have taken big stakes, and placed big trust in this company. They have e gone beyond what we may all consider DD. You can bet these people have sat down with NQ, the auditors, and anyone who knows anything, and asked some very direct questions and invested based upon some very stern and serious stipulations. And I can assure you, these people investing tens of millions and staking their reputations and careers on these decisions have ways to get exactly the information and the validations they need. If MS or BofA or any of these investors invested in NQ, after everything that has gone down, and the investment went south, these guys would lose their jobs, their reputations would be trashed, and heads would literally roll. They all know this. And trust me, they have made certain that is not going to happen before investing or upping their investments. Now seriously, use some common sense, do you really think that so many of these large, successful, smart investors would be jumping in with both feet the way they are if there was a chance of anything being less then correct on the audit? Think!
Sentiment: Strong Buy
60% good result, 40% financial restatement. With minor restatement expect price decrease to 200-day moving average around $15.50. Major restatement means $10. Fraud would put price at around $5-$7. I don't think we go down any more than $17.50 around 50-day moving average.
I came to look here, just because it was taking so long. My last note says Earnings 3/20 after market. They missed that. Originally the audit results were due December 20th as I recall.
When audit results are delayed it means the auditor and the client are negotiating the result. Accounting doesn't take long. Writing the results does.
When earnings are delayed, it means bad news, bad planning, or bad accounting.
I was long in NQ until Feb, and then pulled out 100%. I consider the delay an indication that the audit will not go well, something to short.
Placing two conditional orders at 19 and 21 to buy Puts and Calls. That way if there is intraday action I may be able to participate there. So I'm not really long or short, just predicting some rocky times ahead and that the direction will be consistent in one direction or the other.
Otherwise, I think NQ is in dangerous ground until we clearly understand why the audit and the earnings have been delayed so long.
Sentiment: Strong Sell
Nine21st, a restatements means that NQ's current auditor, Deloitte Touche, has been doing a s*h*i*t*t*Y job in the past that it takes Muddy Water to find out. Any possibility that a buyout would delay the 4th quarter earnings? I know a clean audit would have to come out first before a potential buyer wants to entertain offer, but I am thinking an offer now would be cheaper then after the audit. Here is my prediction: maybe the buyer offers NQ, let say, $2 billion provided if the audit is clean. If there is fraud, the buyer will retract their offer. Nobody is obliged to anything if something goes wrong.