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Friday, October 25, 2013

NQ Mobile (NQ) Stock - Buy or Sell? Scam or Fraud?

NQ Mobile (NQ) - Buy or Sell?   NQ Mobile (NQ) is a buy below $8, sell above $17.

NQ Mobile (NQ) dropped 50% Thursday after a short seller, Muddy Waters, issued a strong sell rating on the stock and called it a fraud.  Muddy Waters thinks NQ is worth zero since it's a scam.  Is NQ Mobile (NQ) a fraud and a scam?  I sorta doubt it.

I upgraded NQ Mobile (NQ) to buy back in March 2013 when the stock was trading between $7-$9.  Since then, shares have rallied to $26.  While I hated it above $15, the company seemed to be legitimate.  The Co-CEO Omar Khan is a frequent guest on CNBC and they claim to have over 300 million users.  That is a large number to be called a scam.  With all of the Chinese scams going around since 2011, NQ Mobile was the last company I thought would be called a scam.

NQ Mobile (NQ) will hold a conference call at 8:30am EST today (October 25, 2013) and they will try to help investor spirits.  I'm expecting NQ stock to bounce back above $14 but if we see a drop below $8, it might be worth a lottery ticket.

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