Nokia (NYSE: NOK) was downgraded by research analysts at Goldman Sachs from a “neutral” rating to a “sell” rating in a report released on Friday August 3.The stock has gained approx 10% since Friday's downgrade.
Looks GS has lost credibility--let us see who downgrades Nokia or bring some bad news for Nokia. I think that Nokia management had enough of these downgrades by GS and Moody's and they sent a very strong signal to market by buying more than million shares. All the negative news have already been factored in. Now things can only improve with launch of new products and support of more carriers. Company has enough cash and things will only get better.
Agree with you somewhat,although the 10% gain in less than 3 days since the stock was downgraded to sell has me a little bit wary!Makes me think that some big guys will just dump a lot of shares......seen it happen so many times.Pump and dump or something like that..