This one is not for the faint of heart. NQ Mobile has seen its share price crater because of accounting concerns initially raised by noted worrywart Muddy Waters. The Chinese provider of mobile Internet services also had to extend last month's filing deadline -- twice.
The potential rewards and risks are substantial. If NQ Mobile's numbers don't add up, this will just be the next bogus Chinese growth stock to buckle. However, if NQ Mobile's right, we're looking at a stock that is now selling for less than five times next year's projected profitability but growing a lot faster. This stock could be at $20 or $0 in a year. It will be feast or famine