Nokia Shares: Vending Machine Prices
Just when you thought Nokia (NOK) couldn't get any lower, surprise new 52-week low. Nokia hit $1.69 a share today.
Nokia closed one penny higher than its 12 month low, finishing the day at $1.70. All kinds of drama is being blamed for today's 6% fall from downgrades to expected losses. Nokia reports Q2 results in two days (July 19th) and everyone has low expectations. The company is cutting prices on its phones and its simply attempting to survive. The big question is how well did the Lumia do in the last 3 months?
MASTERY Bottom line:
Nokia shares could go to zero but if there was ever a time to bounce back it would before they hit $1. Thursday holds all the cards for Nokia investors, until then its going to be volatile.
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