Nokia stock jumps 21% in the last 5 days. Reason to be bullish?
If yous follow the stock marketplace, today was an interesting day to exist a Nokia investor as the stock jumped over 12% to close at $3.31 a share. For the terminal 8 weeks, Nokia's stock has been hovering around the $2.65 mark—sometimes going up slightly, sometimes going down—but ever around that cost point. Simply for the final few days, it'southward been creeping up with a big explosion today, actually peaking at $3.40 before coming down slightly earlier the close of the market.
The reasons for the large increment appear to be tied to ii events including positive news of the Lumia 920 sales and the launch of Hither on iOS. What's funny is nosotros'd contend both news items are rather inconsequential and if anything, non exactly great news. But backing up our theory that investors and business analysts are either completely misinformed, insane or both, the rising in stock while adept for Nokia may exist premature.
Nokia'due south stock has been on the rise lately, closing at $3.31 a share today
For example, although HERE launched on iOS and fifty-fifty Paul Thurrott was commenting on how it is better than the Windows Phone version (we disagree merely see his point), the iOS community is far from impressed. Glancing over the comments on iMore we can see iOS users are non thrilled. Hither is just a sample:
- "Dull and ugly."
- "This is what Nokia came up with? Absolute garbage"
- "Wow. I had to apologize to my 4S for wasting space for this steaming pant-load of an app."
Yikes. In other words, it'south non similar iOS users are now in love with Nokia or that Google should be shaking in their boots.
That's non to put down Nokia too much either. We're betting that the Finnish company probably rushed out HERE for iOS to accept advantage of the Google-gap and Apple tree Maps failures and we can't blame them for wanting to exploit the state of affairs. In fact, it seems to have worked. Wall Street is responding well to the notion that Nokia may be more than a phone company, but one of services too.
The other news was based on a written report that the Lumia 920 was sold out in Germany. The report is tenuous at best because we all know that the 920 is hard to find anywhere in the globe due to shortage of supply, with demand playing an undetermined cistron at this point.
We're not trying to rain on Nokia'south parade here equally anecdotal evidence is certainly strong that the 920 is doing well. Just yesterday we were at our local AT&T store picking their brains on the topic and the determination is that while the HTC 8X is selling lightly, the 920 is piquing much more interest and sales. But no one knows just how many 920's take sold and no one knows how many they would be selling if stock were readily available.
But hey, those on Wall Street smell a winner in Nokia (even if it's based on dubious info) and it has reflected in a tremendous stock gains. That positive momentum is sometimes all that is needed to get things going—people hear that Nokia and the Lumia 920 are a "big striking" and it becomes cocky-reinforcing.
Next matter you lot know, the 920 is the big must take item for the 2022 vacation season.
AT&T Store sold out image via Ben Rudolph
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Source: https://www.windowscentral.com/nokia-stock-jumps-last-5-days-reason-be-bullish
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