Shares of NQ Mobile Inc (ADR) NQ may present a short squeeze opportunity for traders as 18.79 percent of its float is short.
The stock fell Thursday and recently traded at $3.43, down 4.99 percent.
The total shares short have decreased 2.61 percent from the previous two-week period and the the share price has declined over 11 percent in the past 5 days.
The stock off the day’s lows of $3.221 and if investors exit their short positions the stock could spike to the upside.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: Trading Ideas
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in