Nokia (NOK) was riding high back in 2000, with a stock price near $60 per share, by September 2001 it was down to around $14 per share and crawled back out of the shadows to around $40 by November 2007. Then slid and hovered between $10 and $15 all the way through 2009 and most of 2010.
On February 9, Nokia peaked at $11.73, but today, Friday, November 11, 2011, NOK was knocked off the precipice and is about to close at around $9.
Analysts were struggling to rationalize why they should hold on or buy more of the stock. It was reported that the company was making a deal with Microsoft for the use of its smartphone platform, Windows Phone 7 (1) among other strategies, however, the phone may never emerge from the shadows of Apple (AAPL) or Reserch in Motion (RIM).
I'm reminded of Kodak, which peaked at over $90 per share back in 1997, but is now a mere shadow of its former self at $3.63 per share. Oddly, there are over 200,000,000 shares of Kodak still out there. What a bummer.
Some times you just have to let go.
1. http://blog.mobilegamesblog.com/2011/02/nokias-shares-sink-13-28/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MobileGamesBlog+%28Mobile+Games+Blog.com%29
On February 9, Nokia peaked at $11.73, but today, Friday, November 11, 2011, NOK was knocked off the precipice and is about to close at around $9.
Analysts were struggling to rationalize why they should hold on or buy more of the stock. It was reported that the company was making a deal with Microsoft for the use of its smartphone platform, Windows Phone 7 (1) among other strategies, however, the phone may never emerge from the shadows of Apple (AAPL) or Reserch in Motion (RIM).
I'm reminded of Kodak, which peaked at over $90 per share back in 1997, but is now a mere shadow of its former self at $3.63 per share. Oddly, there are over 200,000,000 shares of Kodak still out there. What a bummer.
Some times you just have to let go.
1. http://blog.mobilegamesblog.com/2011/02/nokias-shares-sink-13-28/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MobileGamesBlog+%28Mobile+Games+Blog.com%29
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