Nokia Stock Watch: 11/2
Looks like investors have something to be happy about! Following my previous post on Nokia’s stock price and its peculiar downward trend in the previous week, the shares rose on the positive results seen in Nokia’s Q3 2013 report!
As you can see from the graph above courtesy of the Bing Finance app, Nokia saw some growth in mid October, and saw a small peak the day before the Nokia World event, followed by a downward slope following the event. This was likely due to Nokia’s investment in Windows 8.1 RT, an OS that despite the amazing design of the company’s first tablet, has a questionable and confusing future in the tablet market. I didn’t really understand what had investors so worried after announcing 6 new devices, many of which were well-received. And I was initially worried about Nokia’s Q3 2013 report potentially resulting in a sharp fall in the company’s stock price, with the negative view that analysts have a tendency to attribute to any good news Nokia has to offer. But looks like quite the opposite happened, as Nokia’s record sales of 8.8million Lumia’s was received pretty positively, causing the stock price to rise somewhere around 8% to a 29 month high of $7.76USD.
Shares were maintained at that level following the news that Nokia had won a patent litigation against HTC. As they began to ripple around a slightly lower point of $7.63, word got out that the company had finally re-entered the top 5 list of OEMs in the US, holding 4.1% of that market with a record 1.4million Lumias sold there. I figure more positive news like this will increase investors’ confidence in the company, who’s divestment of their Devices & Services division will benefit Nokia’s cash position moving forward.
FYI: I’m no stock expert (far from it), this is just my amateur analysis and opinion on the matter.