In the video below, Senior Technology Analyst Eric Bleeker looks at the outsized sell-off in Nokia's shares after the company announced its newest phone. As Eric describes, the phone came in pretty much as expected, with slick hardware. However, the next day Nokia, sold off a whopping 16%.
In the end, Eric notes a couple of takeaways. The first is that, while Nokia is being trumpeted by many value investors, the size of yesterday's sell-off on a phone announcement shows that there are a fair amount of speculators crowding into its shares. Second, the sell-off was probably less about the phone itself, and more because Nokia didn't announce a firm release date aside from the fourth quarter of this year. Nokia says its hardware is ready, but it's waiting on "integration" issues with Microsoft's new Windows Phone 8. To that end, Eric says that the launch could be just another reason why Nokia might have been better off going with Android. To see Eric's full thoughts, watch the following video.
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