Investors Vote On NQ Mobile, Results Are Overwhelming!
The investing community thinks shares of NQ Mobile (NYSE: NQ) have significantly more upside, according to a survey conducted by Benzinga.
The company's stock took a big hit after Muddy Waters published research very critical of the company. NQ Mobile responded by forming an independent committee that ultimately released a report rejecting Muddy Waters's claims.
One concern with "independent" committee investigations is their trustworthiness. Problems regarding the committees can range from data access to incentive alignments. In this case, a vast majority of readers trust the committee. Only nine percent disregard it while 83 percent trust its findings.
In addition, an outstanding amount of readers believe Muddy Waters should be punished if the research firm’s claims can be proven false.
Most important, price. Only nine percent of voters think shares will be lower than their current level one year from now (last trading at $9.84). The weighted average price prediction is $28.10, (using midpoints and assuming $50 for the $45+ category). That's 186 percent higher than Thursday’s close!
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.