NQ Mobile (NQ) Stock Surging On China Telecom (CHA) Deal

NQ Mobile shares (NQ) gained as much 6.50% to $7.18 Wednesday after announcing a new partnership with China Telecom (CHA).

Under the new agreement China Telecom will bring NQ Mobile’s vLife technology to China Telecom’s “E Surfing” mobile cloud platform. NQ Mobile’s vLife technology will power the user interface for the platform, which has been rapidly adopted, achieving 200,000 downloads per day, enabling China Telecom to present dynamic content, recommendations and promotions.

NQ gapped higher in early market trading reducing its yearly, and year-to-date decline to about 63% and 52.79%, respectively.

The chart below shows where the equity has traded over the last 52 weeks, with the 50-day and 200-day MAs included.

NQ Mobile Inc. is a leading global provider of mobile Internet services. The company maintains dual headquarters in Dallas, Texas, USA and Beijing, China.

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