Boston, MA 03/03/2014 (wallstreetpr) – NQ Mobile Inc (ADR) (NYSE:NQ), a leading provider of mobile Internet service, was last seen heading south by a significant margin of almost 8.5 percent to $19.41. That happened even as the $936.62 million capped company got recognized for its outstanding services.
It has been explained that the reason the stock of NQ has been volatile has to do with the big number of short interest in it. The most recent available data suggest that short interest in the stock accounted for more than 45 percent of the company’s total float. Thus, with such significant amount of bearish observation on the stock, swing in stock price is almost natural. That is why, even without any direct negative news linked to the stock, the share prices took a rally south, sending the stock in the reds.
Dimmed recognition
Traders seemingly didn’t have time or earn for the news that NQ Mobile Inc (ADR) (NYSE:NQ) was being awarded ‘Gold” for being Best Overall Security Company of the Year. NQ Mobile was also recognized as Fastest Growing Security Company of the Year and Business Expansion of the Year. As if that was not enough, the company also ended up among the only 13 recipients of Grand Trophy in overall excellence. These awards were sponsored Info Security Products Guide and were presented at the Tenth Annual Global Excellence Awards in San Francisco. About 50 judges representing a wide range of industry voices around the world selected the winners in this year’s feting.
Vote of confidence
As for NQ Mobile Inc (ADR) (NYSE:NQ), the fact that it has been recognized for various outstanding services and solutions goes a long away to suggest a vote of confidence in its business as chief commercial officer for international operations, Gavin Kim observed. He said that the recognition for various awards by Info Security Products Guide validates the company and its solutions as the best-in-class.
So then, NQ Mobile Inc (ADR) (NYSE:NQ) believes it can build on that to enhance its financial performance and product provision.
