NQ Mobile Inc. (NQ) declined to a one-month low as short sellers boosted their bets against the Chinese mobile-service provider to a record high after Muddy Waters LLC accused the firm of inflating sales.
Shares sank 6.4 percent to $11.09 as of 2:04 p.m. in New York, heading for the lowest close since Nov. 7. Short interest, or shares borrowed and sold on expectations they will fall, rose to 14.1 million shares as of Nov. 29, from 13.8 million two weeks earlier, according to exchange data released yesterday.
The company has lost more than half of its market value since Oct. 23, the day before Muddy Waters said the company was “a massive fraud” and the shares are worth less than $1. Investors including Altimeter Capital Management LLC and Oberweis Asset Management Inc. have increased their holdings, setting up the stage for a showdown between bulls and bears as NQ says its accounting and businesses are legitimate.
“From the short sellers’ perspective, the reward is meaningful there -- if Muddy Waters proves right, the stock has potentially $10 or more on the downside,” Sachin Shah, a merger arbitrage strategist at Albert Fried & Co LLC. in New York, said in a phone interview.
If you buy all you can now and MARGIN. You will be rich tomorrow
Since you think it will decrease in price again, the stock will actually jump up.
THAT IS WHY YOU SHOULD LOUD UP NOW!!!!!
Not really, You jumped after a 200% run up. If you had bought Geron at $1 instead of at $6 then you would fee differently.
Same with MACK which was at $2.05 less than a month ago. It has already doubled. What do you expect?
Why wait because it is down already. I bet this closes up green today.
Don't risk not holding this stock. Buy all you can as I know you are right and Friday this stock JUMPS by $2.
Quick, buy and don't wait as we are turning green. You have to move quick and buy now before it is over $4.40 by end of day.
So, the pumpers dumpers load up and push the stock up on day of conference sales/marketing and afterwards they sell off.
I admit I was wrong....I did not see the Nasdaq indices falling -1%
All of you should buy and load up now.
Legally, they can buy the stock 2 days after earnings. So, to them, it isn't cheap after falling 50% because no insider has bought the stock.
You can't stop it.
I think the base is $3.50 in a few more days.
And falling further. People are yelling bloody murder. How would you feel buying at $7 and 3 days later trying to get out at $4.70?
Because it can take 6 months - 1 year before any investigations are through. So, you just short on any pop. I did that twice already. I am certain to cover again in a few days. Then, wait for another pop and short again.
I shorted at $14.07 on the pop on December 4th. I will cover at below $10 in a few days.
Just do not sell. You just exacerbate by selling. DO NOT SELL!!!!!!