Nokia Stock Watch: 10/28
I’ve been a shareholder for nearly a year now, and I’ve been following the stock since the days of Symbian^3. Granted, I don’t own many shares, but a little can go a long way. Anyways I was a little disappointed at today’s closing numbers but also a little confused with the recent downward trend the company has been seeing since late last week.
As you can see, the stock has fallen today by .22cents. May not seem like a lot, but Nokia’s stock has been running pretty low (relatively) since 2008 when it fell from approximately USD30 per share to about half that, and then downwards to less than $2 in 2010. Since then, it has shot up to around $6 with news of Lumia sales rising, Blackberry going under, and even the recent purchase of Nokia’s handset division by Microsoft, but it’s still pretty, and .22cents can make quite the difference. Last week, the stock hit it’s highest point in the past 2 or so years at $7.35. But that was before Nokia World 2013. The next day, following the launch of 6 new devices, we well as 2 new form factors for the company, the stock started to fall slightly, then more steeply in the following days.
I find it curious that it’s fallen so much not just today, but in the past week. The general reception of the new devices seemed pretty positive, especially that of the new 6″ Lumia 1520 phablet device. So why has Nokia seen this downward trend lately? Is it the Windows 8.1 RT-running Lumia 2520 that’s ailing them for not running Windows 8.1 Pro? Maybe the 1520 is too expensive at $ 749? Maybe the public wanted to see more, like the as-of-now unannounced Lumia 929 for Verizon, or the a leaked Nokia Guru and smartwatch devices?
I feel like I may have missed something. Photos are being leaked from the upcoming Verizon Lumia 929, so one would think that would get some excitement and buzz going. At the same time, Nokia’s quarterly results are to be published tomorrow, and I figure analysts are looking for reasons to shoot down the company as they always do. I complained a while back about how Nokia is never given a break, and even if sales rise and losses shrink, analysts have a way of turning everything regarding the company into a negative. Hopefully the case will not be the same tomorrow. We’re all expecting an increase in Lumia sales, so maybe the company will surprise us and actually beat the analysts’ unnecessarily high expectations, giving shareholders a boost in confidence for Nokia.