Yes, disappointing today, very. I think NOK is worth more than 2.38, and, more than 3. As a matter of fact, I think it is way undervalued. Today was difficult. Do what you have to do. Watch out for that easy money. You could get burnt big time!
Hold. Don't be stupid like me. About a month ago, I bought Nokia for about $2.40. And then I freaked out when it went back down in to the $2.20's so I sold it. And then a month later, the stock went up to $3.25. If I just held on to the stock, I would have made thousands of dollars. Just hold the stock. It will go back up. It may not be overnight, but it will go back up.
I've been following Nokia for a few months now and haven't bought in because I'm currently invested in gaming companies and I am conservative when investing. While I see hope for Nokia, I think this could've been prevent easily by setting a sell order 10% below your buy value.
I never hold a stock for more than 10% profit or 5% loss because I find the most stable stocks are those that can maintain value. This drop is optimistic for me since NOK is now in the range that I value it at.
However, without a launch price or date for their big phones I cannot justify investing. I'm equally disappointed with how MS is handling their products with the W8 release less than 2 months away.
Doi you need a tax loss? Were you planning on holding if it went up? I'm down over 30K, and although I'm not happy, I'm also not worried about the longer term prospects. Give it 12 months and see where you are. This just the first day of a new chapter in mobil smartphones.
I worked for these guys for several years, I would hold. The Fins are very hard workers and are very wise people. The country depends on this industry, so it will not let it go easily. Keep in mind Apple shot ahead because of Jobs, who is gone now unfortunately, now they are slowly moving back to where all the other loser American companies are, poorly managed and unmotivated.
My wife worked for them for several years, too. One day in 2007 (I think) I saw a coworkers google smartphone. I told my wife 'they are going to kick your #$%$ you have nothing that compares, plus Apple is going to dominate the world, too' (I should have bought them, but I am not much of a trader, I guess). She was offended and ignored me, except to say, "We aren't worried about Apple, they are only in the US". Well, everything (mostly) starts in the US, doesn't it?
Anyway, I don't know jack about tech, barely use a cellphone, but it was kind of obvious to me that NOK was facing trouble 5 years ago. So I wouldn't say the Finns impressed me as wise. These two companies stole a march on them in a big way 5-7 years ago, and now they have low end comp from China too. Maybe they have a 20% chance?
None the less, I am long ~2.5k shares (mostly bought at much higher prices in the ESPP). I guess there is no point selling now. I look at it like lottery tickets at this point.