Nokia rising: stock breaks through $4 a share upon news of strong demand
For the first since mid April, Nokia’s stock has bounced nearly 5% on the day to put it at $4 a share. The news appears to be due in part to a report from Liberum Capital (reported by the Economy News) that the Lumia 920 is still selling well and what’s more, that it’s coming back in stock.
We reported yesterday that Amazon Wireless and even AT&T stores were now stocking the white, matte black and glossy red Lumia 920s for immediate purchase. The timing is crucial as we head into the last two weeks of the sales quarter and of course the holiday shopping season, as this gives Nokia an opportunity to try and meet presumed demand for their flagship phone.
Nokia’s stock took a hit this year, reaching a low of $1.63 back in July. Upon release of Windows Phone 8 though and some cautious optimism, the price has steadily crept back up especially in the last few days.
It’s still trading below its 52 week high of $5.87 a share but Nokia may be on the verge of turning things around. Between positive reports of the Lumia 920, restructuring of the company and its leasing of its headquarters, investors are now seeing an opportunity with the Finnish company.
Of course the real day of reckoning will be when Nokia reports its 4th quarter results January 24th as that is when solid sales figures are expected to be revealed. Liberum Capital estimates that their sales report will be positive:
Do you think Nokia has finally righted the ship and is back on track? Let us know in comments.
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Daniel Rubino is the Editor-in-chief of Windows Central, head reviewer, podcast co-host, and analyst. He has been covering Microsoft since 2007 when this site was called WMExperts (and later Windows Phone Central). His interests include Windows, laptops, next-gen computing, and for some reason, watches. Before all this tech stuff, he worked on a Ph.D. in linguistics, watched people sleep (for medical purposes!), and ran the projectors at movie theaters because it was fun.