Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Longbow Securities Makes a Couple Rare Moves in NQ Mobile

In a new 13G filed earlier today with the SEC, Longbow Securities reported an 8.04% stake in NQ Mobile Inc (ADR) (NYSE:NQ). Shares of the Wi-Fi and Wi-Max company have lost over 40% in the last ten days on allegations by Muddy Waters that NQ is a fraud.

NQ Mobile Inc (ADR) (NYSE:NQ)

UPDATE: In a second filing, which came about an hour later, Longbow reported selling off its entire position in NQ. The date of the event for the second filing is October 28, which is only 3 days after Longbow purchased shares of NQ.

So, the move made by Longbow into NQ was a very short-term trade. It is odd that both moves have been reported publicly in such a short amount of time, but then again, seeing a stock drop nearly half of its market value in a couple days is a rare event too.

Disclosure: none