Agreed. I believe it was a "real" run, the Lenevo rumor was squashed just as quickly as it appeared.
IMHO, there "could" be some short-term profit taking to drive the price down to about $2.30, but we'll likely see another run-up (potentially even larger) during the period leading to Nokia World in early September.
Fasten your seat belts! :)
I absolutely believe the trading today was one of those days where it got away from the institutions. They have been loading up on the stock in anticipation of a huge run up. The patent wars are heating up and NOK is a patent behemoth. The fact that this is only worth $8 Billion given all of its assets is silly and the big insti's know this. Today was all about pumping a rumor, knowing it was fake so that they could tank the stock when the supposed suitor would deny the rumor. Anyone can see through this. I expect a few days up to a couple of weeks of sideways action and then more gains. Within 6 months I think it will be at $4.50 to $7.00 depending on how quickly their operations can get turned around.
Sorry guys. Honest mistake. I have been adding to my Nokia at $3, $2.20, $1.87, and $1.93. I didn't realize this reflected last year. Buyout aside, NOK is worth $5 - given the cost cuts, Window's 8, and ASHA touch screen refresh. Oh yeah, then there is the 41 megapixel Pureview. It wasn't Nuisba.
Wow that's a lot of shares, I don't have that kind of money.
I think we'll close green but even if we don't you have to expect profit taking after a 67% run in 1 week. But this was no pump and dump as there was no bogus PR's and no phony upgrades. This was a real run and it should continue after the profit taking.
I hear ya. I believe there are some big institutions piling in. I love the big topping tail today...scares the crap out of people and prevents more people from jumping in here, fearful of another fall. If they can get it down in the $2.2 area I will go all in. Right now I'm about 1/2 in with 85k shares.