By midafternoon, shares were down 8.8% to $11.05.
In the statement, the company said there had been no resignations and that senior management and the board "remain united, dedicated and confident."
The China-based telecom also said the company was purchasing stock on Monday in accordance with its 10b5-q plan.
"The company remains confident in our business, in our financials, and in our future and we look forward to putting this period of manufactured volatility, rampant rumors and speculation behind us," NQ Mobile said in the statement.
TheStreet Ratings team rates NQ MOBILE INC -ADR as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NQ MOBILE INC -ADR (NQ) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and feeble growth in its earnings per share."