Normally I stay on the geek side of things and steer away from writing about the stock market, but Nokia caught my eye. Smartphone technology giants are in an all-out, no holds barred fight to for the consumer. On February 24th Nokia (NOK) hit its high of $5.80 for 2012 and then slid steadily downward to $1.69 on July 17th. What was looking like a bleak ending for the technology powerhouse, Nokia is starting to see a ray of sunshine in the Smartphone battle. On August 15th, WPCentral announced a joint press event set for September 5th featuring Microsoft and Nokia. Speculation is Nokia will announce its Windows 8 line up for this year. We know Windows 8 PC launches October 26th, but the dates haven’t been made official for the Windows Phone 8. Am I noticing an interesting correlation between impending announcements and Nokia’s stock price? The stock has increased dramatically from its low. In the middle of the
smartphone war, one battle was settled on Friday, August 24th when the
court ruled against Samsung, ordering it to pay $1.3 billion in reparations to
Apple. Notice that Nokia stock closed up 5.52% from the previous day’s close. Interestingly, enough the Lumia 900 was an exhibit in the case.
There are many factors and theories as to why the needle moves on stocks. It is interesting though in light of recent announcements, Nokia has been on an upward trend for the last 29 days.
**This article is only analyzing events in the last two weeks and is not meant to provide direction as to buying or selling. I also do not own stock in Nokia.