NQ shareholders have had quite a thrill ride since SR’s last update. The share price roller-coaster dipped and curved, rose and fell, and finally reached that last big slope with everyone screaming, hands in the air! How exhilarating! Okay maybe not everyone enjoys roller-coasters…
As it turns out, SR’s prediction for continued weakness was accurate, though it took some time to become apparent. This, in spite of many SR “future headlines” hitting the wires (look for an upcoming retrospective article).
Adding to the “fun” was a special guest appearance by none other than Bart Simpson! Bart’s role in this episode included a call to Moe’s Tavern, “I’m looking for a friend of mine, last name Jass, first name Hugh”. Unfortunately for Bart, Mr. Hugh Jass, a distinguished businessman, happened to be enjoying a quick cocktail after work and came to the phone. Bart was at a loss, “Uh, look I’ll level with you Mister, this was a crank call that backfired and I’d like to bail out right now”. Mr. Jass took it in stride, as any adult would, “Alright, better luck next time” and remarked to Moe, “What a nice young man” before going about his day.
It’s also rumored that Bart may be starting a hedge fund…
NQ shareholders are sure to make a quick connection to the real world prank that occurred during the company’s last conference call.
Posing as Jim Oberweis from Oberweis Asset Management, short-seller Carson Block decided to plant the seed that Henry Lin, former Co-CEO of NQ Mobile, was in jail (timestamp 37:35).
Omar Khan, CEO NQ Mobile, took it in stride (timestamp 39:09) and answered Bart’s, I mean Carson’s, question, “We did, last week, disclose Henry’s departure from the company. It was for personal reasons and we are respecting Henry’s request for privacy. What I can confirm for you is that it is not related to anything to do with the company and I think you also raised another question about certain rumors in the Chinese media and we are not aware of any such link to the rumors” finally adding “I wanted to answer Carson’s question first” before reconvening his discussion with Patrick Lin regarding 2015’s business outlook.
Bloomberg reported, “Jim Oberweis, president of Oberweis Asset Management Inc., declined to comment …” on the impersonation.
If it wasn’t bad enough that Carson crashed a business meeting by impersonating a portfolio manager, NQ shareholders were recently informed that Henry is back at the office continuing to add to the “vision and strategy” of NQ’s future.
Well Bart, will you be the “nice young man” and admit to a “crank that backfired” or will we hear from Mr. I. P. Freely on the next call.
Rumors seem to be the prank phone call of Wall Street these days though. Maybe too many of these people, managing money, grew up with Bart as their anti-hero. Worse still, is how bad their behavior must get before the Barts of Wall Street are shunned, dismissed, fired, or simply ignored.
In the meantime, as long as there is someone standing next to Bart laughing while he pranks Moe, there will be money to be made on their shenanigans and the “market game” will continue.