Not sure if you caught this amazing exchange but short-seller and fraud uncoverer Carson Block of Muddy Waters released a report this week calling NQ Mobile, a Chinese mobile carrier company, of being a “massive fraud” with 70% of the company’s revenue being “fictitious.” He went on Bloomberg TV to explain his research as the stock plummeted from 23 to as a low as 8 at one point during the day.
This was followed by a call-in from the CEO of NQ Mobile who called Block’s allegations “nonsense” and refuted them point by point.
Who’s right? Let’s watch both appearances and chew on that question…
Omar Khan, CEO of NQ Mobile: