Let's step into our common sense corner here, Millions upon millions of shares were shorted and tens of thousands of puts purchased on the basis of this 81 page report of which not ONE major claim has been substantiated, and more so, have been undeniably rebutted!Keep in mind, the precedent here is within two weeks of the drop the stock had completely recovered the entire drop, not to mention continued higher thereafter, an outcome which I would expect repeats here.
At $11 this still represents a significantly undervalued high growth company with a forward PE of 7, and if you adjust those figures for the allocated buyback of $35M (I would note the company has hinted at looking to increase this figure as a result of recent events) which can begin after their earnings are released within two weeks, these figures look even more attractive.
When you make a livelihood by attempting to destroy companies and wipe out shareholders for your monetary gain, as much as your motives should be questioned, your research should be more so. Painting a clever but incomplete picture raises many ethical concerns and represents a disappointing decline in the quality of Muddy Waters' research following the long gone days of Sino Forest.
NQ shorting would be dumb now. Muddy water cashed their shorts the day of news release. With cash verification this stock keeps going back up. They legally shorted it and now have moved on.All long here back to $20
Mr. Khan and Dr. Lin continue to drive NQ Mobile’s momentum in product and business development worldwide. In 2012, the company announced acquisitions of Beijing NationSky Network Technology, Inc. (“NationSky”), a leading enterprise mobile services provider, and Beijing Feiliu Jiutian Technology Co. (“FL Mobile”), a leading social mobile platform in China. These acquisitions position the company for accelerated global growth and extended reach across mobile product categories, adding 65 million registered user accounts and 13 million monthly active user accounts through the FL mobile games and advertising business as well as over 1,200 enterprise customers through NationSky.
William Block, Carson's dad and former employer, has been sued for misleading shareholders. This is an excerpt from one lawsuit against his dad;
"20. Defendant M.H. Meyerson & Co. is a stock brokerage firm.Defendant William Block ("Block") is an analyst that works for M.H. Meyerson. During the Class Period, Block and M.H. Meyerson issued false and misleading reports on Quality Systems."
That came from Gunderson v Quality Systems, Ins, et al - 4/2/97
His dad worked for a pump and dump firm named MH Meyers who were in trouble with the SEC several times. In a recent post of mine I mentioned an article from The Wall Street Transcript (TWST) from May 8, 2000, where both Carson and his dad William were interviewed. The first strong buy pumped by dad was Rent-Way which then was caught by the SEC for a $60 million financial Fraud. Google Rentway and SEC and you can see for yourself. Carson's pick in that article was Tidel ATM machines sold off it's ATM business and none of that money went to shareholders. It all went to creditors. At that time his dad had his own firm named WAB capital.
This guy and his dad are both very unethical people who don't mind lying and ripping people off just to make money.