Skip to main content

Don’t Buy the Rumors, but Nokia Stock Could Still be Worth the Purchase

Don’t Buy the Rumors, but Nokia Stock Could Still be Worth the PurchaseIn an ill-looking market and tech companies taking the unwanted lead, there's also Nokia (NYSE:NOK). And right now, both off and on the NOK stock price chart, investors have the opportunity to "strategically explore" a profitable purchase for a better tomorrow. Let me explain.Source: RistoH / Shutterstock.com For most of Wall Street, it's all about Microsoft's (NASDAQ:MSFT) coronavirus-driven sales warning and a growing Covid-19 health threat following the discovery of the first U.S. case of "unknown origin" in California.The combined reports in a market already showing sure signs of panic and fearful behavior has led to the S&P 500 index spiraling lower by another 4.42% on Thursday.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFor Microsoft's part and following Apple's (NASDAQ:AAPL) sales warning earlier this week, shares of the world's second-largest publicly traded company are off by about 4.75%. That brings the tech giant's total loss to around 15% over the last couple weeks since hitting an all-time-high. But for Nokia stock the real story may be all about yesterday's news, literally and figuratively, as well as the price chart.In Wednesday's session and amid an ever-growing risk-off contagion within the markets, the Finland-based telecom outfit saw shares jump more than 12% intraday before finishing up about 6% on M&A optimism. The bid followed a Bloomberg report Nokia is "exploring strategic options." * 7 Delicious Restaurant Stocks to Buy While some obviously skeptical profit-taking can't be faulted for a company still associated with its ill-fated cellphone business and whose shares have languished for the past two decades, there is also hope for tomorrow's NOK stock. NOK Stock Price Monthly Chart Source: Charts by TradingViewWith Nokia continuing to score new customer contracts and equipping itself for meaningful long-term growth within today's massive 5G build-out, NOK stock shouldn't be dismissed as yesterday's news. Moreover, the company is now positioning itself off and on the price chart to be a legitimate turnaround play. * 7 Stocks to Buy Over $100 That Are Worth Their Price Tags In today's world where nearly 5 billion videos are watched daily on Alphabet's (NASDAQ:GOOGL) YouTube and more than 3.25 billion hours of content (and growing) are viewed each month, capturing a piece of the 5G pie that's so critical to trends like these not only sets up Nokia for a recovery, but maybe and finally, even a new chapter for its shareholders.The other "maybe and finally" platform that's taking shape is on Nokia stock's price chart. Roughly eight years since hitting a 16-year low, over the past couple of month's shares have confirmed an oversold and technically well-supported undercut variation on the classic double bottom more than three years in-the-making.The price action in Nokia is promising to say the least. Of course and as anyone with even a passing interest in today's market can tell you, investing rightfully comes with disclaimers. And NOK stock chart isn't immune from those uglier possibilities. Still, the observation is that that feeling of Finnish happiness could prevail for investors 'strategically exploring' a purchase of Nokia today.Disclosure: Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional options-based strategies and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Safe Stocks to Buy on the Coronavirus Dip * 7 Stocks to Buy Down 10% in the Last Week * These 4 Stocks to Sell Are Melting Down Now The post Dona€™t Buy the Rumors, but Nokia Stock Could Still be Worth the Purchase appeared first on InvestorPlace.




from Yahoo Finance https://ift.tt/2VucYdQ

Comments

Popular posts from this blog

Photo finish: Crashing sales force Olympus to sell iconic camera business

Sometimes, the vicissitudes of capitalism force companies to exit the businesses for which they’re best known. Olympus, once a leading light in the photography industry, is now joining that list. On Wednesday, the company said it planned to quit its 84-year-old camera business. The imaging giant, known for its once-pervasive digital cameras, agreed to sell off the declining unit by year’s end. Japan Industrial Partners, a private equity firm best known for buying Sony’s struggling Vaio computer line in 2014, agreed to purchase the business. Terms of the deal were not disclosed. A glance at Olympus’s financial statements provides all the rationale for the divestiture; as at rival manufacturers, camera sales have plummeted over the past decade. For the fiscal year ended March 31, Olympus’s camera unit declined 10% versus the year prior to  ¥43.6 billion, or $407 million. The unit’s sales have collapsed by three-quarters from a decade ago, when the company brought in ¥175 billion, or $

WHO says common steroids can slash death risk for the sickest coronavirus patients

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,  subscribe today . An old drug can learn new tricks during the coronavirus pandemic. That’s the main takeaway from the World Health Organization (WHO) in a new analysis of corticosteroids—a class of drugs which have existed for dozens of years and are far cheaper than new, experimental COVID treatments in development—suggesting that drugs like dexamethasone can slash the chances of COVID-19 related deaths by as much as 35% in the sickest patients. The WHO analysis of coronavirus drugs encompassed seven separate studies. And while an analysis of this sort—what’s called a “meta-analysis”—isn’t as rigorous as other types of trials like a randomized controlled study, the data are compelling. Corticosteroids have a very different action mechanism from many of the other coronavirus drugs in development. COVID-19 is a peculiar disease. Some who have been infected may be