Why NQ Mobile Stock Jumped Today

Shares of NQ Mobile (NYSE: NQ) jumped on Thursday, closing out the day with a 12% gain, after the company provided an update on its FL Mobile divestment and sale of Showself's life social media video business. The company received a hefty cash infusion as part of the ongoing process.

NQ Mobile received an additional 800 million yuan ($120.5 million), which is in addition to the 150 million yuan ($22.6 million) that it had received back in March when it signed the agreement. Adding up those two figures, NQ Mobile has now received a total of 950 million yuan ($143 million) so far.

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Source: Fool.com