NQ Mobile Bet By Toro Is Highly Leveraged

A quick look into Toro Investment Partners, the company that revealed this morning that it had taken a 5% stake in embattled mobile services company NQ Mobile Inc (NYSE:NQ), offers some interesting information. According to SEC filings, Toro Investment Partners has just $32 million in assets under management. This morning's revelation was worth around $40 million at today's prices.

If those numbers hold up, assuming Toro hasn't gotten massive new investment since October 29th, when the AUM was recorded or took the shares at a discount, Toro...