NQ Mobile (NQ) Tumbles as Unit Sale, Earnings Fail to Impress

NQ Mobile Tumbles as Unit Sale, Earnings Fail to Impress

By: Elena Popina and Ye Xie

Source: Bloomberg

“As far as I’m concerned, the main topic of interest for shareholders is” Lin’s departure, Vijay Marolia, chief investment officer at Regal Point Capital Management, which has a short position on NQ Mobile, said in e-mailed comments Dec. 19. The sale of FL Mobile to Tack Fiori International Group Ltd., a clothing company, “makes zero sense,” he wrote. “How realistic is it for a company with a market cap of $253 million to be able to sell a subsidiary for $600 million?”

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