Shares of NQ Mobile Inc (ADR) (NYSE:NQ) are trading up this afternoon as some investors anticipate a better than expected third quarter earnings report.
After a significant share price drop on Friday, shares of the Chinese Mobile stock have more than bounced back today. Earnings will be reported at around 6:30 p.m ET, with and earnings call scheduled approximately one hour later at 7:30 p.m.
While a positive report could really help the stock, which has been bouncing around considerably over the last 12 months, a recent announcement by StockTwits indicates that there may be some manipulatiion involved in todays trading activity, with the StockTwits tweeting the following:
“We recently suspended a handful of users for suspicious activity around this stock. Please be careful. ”
We will stay tuned to this story this evening as numbers are release.
The stock is up 4.53% or $0.18 after the positive news, hitting $4.15 per share. About 837,550 shares traded hands or 51.04% up from the average. NQ has declined 3.64% since April 27, 2015 and is downtrending. It has underperformed by 2.75% the S&P500.
NQ Mobile Inc. is a holding company