Blockchain Internet Of Vehicles Has NQ Mobile

Blockchain Internet Of Vehicles Has NQ Mobile

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NQ recently received $459 million in cash and $270 million in senior notes at an 8-percent interest rate from the Chinese private equity firm Tongfang Hightech M&A, Zhang said in a Thursday note. (See Zhangs track recordhere.)

NQ Mobile Inc (ADR)(NYSE:NQ), a China-based global provider of mobile internet services, was highlighted by a Wall Street analyst as being the next big thing in areas like internet of vehicles,blockchainand smart cars.

The company plans on selling its mobile gaming and mobile entertainment businesses, which implies it will hold $778 million in cash, the analyst said. Even when factoring in a $220-million convertible bond that was issued, the stock will still trades below its net cash level, as it closed on Wednesday valued at $390 million.

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Blockchain, Internet Of Vehicles Has NQ Mobile Rallying

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NQ Mobilesnew partnershipwith Linkmotion gives the company exposure to the next big thing in technology, including internet of vehicles, blockchain and smart cars, the analyst said. Linkmotion offers a differentiated full platform operating system, making it not just an infotainment software add-on, but a fully integrated OS and hardware platform that replaces the myriad of ECU complexities while providing car makers with a robust and secure solution, according to Rosenblatt.

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Shares of NQ Mobile were trading higher by 13.50 percent shortly after Thursdays open.

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Combining this with the fact that the data is shared and stored in the cloud, this connected car environment can be much more than just a car or consumer vehicle but can also become a services and technology platform of the future, Zheng said. Linkmotion has also developed internal blockchain technology and a platform to support connected car services.

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Rosenblatt SecuritiesJun Zhangmaintains a Buy rating onNQs stockrating with an unchanged $13 price target.

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