Nokia 8

Finnish Investors Are Still Bullish On Nokia Stock

Nokia Corporation (NYSE:NOK) (BIT:NOK1V) continues to get love from local investors, while the global appetite for its stock wanes. The Finland-based mobile phone maker, and once a leading brand across the globe, is experiencing one of the most difficult times in its entire history.

Finnish Investors Are Still Bullish On Nokia Stock

Nonetheless, local investors have maintained their positive attitude towards the company’s stock, as they continue to accumulate more shares in the mobile phone giant. According to Helsingin Sanomat, in the first half of 2012, local investors acquired approximately 88 million shares of the mobile phone manufacturer. Finnish investors bought over 24% of the company’s shares during the first two quarters of 2012.

The report states that the value of these shares based on an average price stands at approximately 230 million Euros. This is equivalent to 2.36% of the company’s total outstanding shares, excluding the shares held by the company itself.

This news is an indication that the local investors see no fear in the current troubles tormenting Nokia Corporation (NYSE:NOK) (BIT:NOK1V); however, research has shown that investors around the globe to prefer investing in local companies over foreign ones.

Timo Rothovius, a professor of accounting and finance at the University of Vaasa, states, ”In general, investors buy domestic stocks rather than foreign companies’ shares. This is a common phenomenon in various parts of the world. He added, “in the case of Nokia, Finnish investors have more confidence in the increase in the value of Nokia stock than do foreign investors who have sold those shares”.

Nokia Corporation (NYSE:NOK) shares were 7.7% up on Monday and up 7.8%  on Tuesday, following the Apple Inc. (NASDAQ:AAPL) against Samsung Electronics Co. Ltd ruling. Many investors think that the court ruling will help Nokia.  The recent Apple and Samsung ruling likely will provide some more fair play in the Smartphones and tablets industry going forward.

At the time of this writing, Nokia Corporation (NYSE:NOK) stock was trading at approximately $2.85 per share, down $0.18, or 5.94%, on the New York Stock Exchange.

LEAVE A COMMENT


X
Saved Articles
X
TextTExtLInkTextTExtLInk

The Life and Career of Charlie Munger

Charlie is more than just Warren Buffett’s friend and Berkshire Hathaway’s Vice Chairman – Buffett has actually credited him with redefining how he looks at investing. Now you can learn from Charlie firsthand via this incredible ebook and over a dozen other famous investor studies by signing up below:

  • Learn from the best and forever change your investing perspective
  • One incredible tidbit of knowledge after another in the page-turning masterpiece of a book
  • Discover the secrets to Charlie’s success and how to apply it to your investing
Never Miss A Story!
Subscribe to ValueWalk Newsletter. We respect your privacy.

Are you an intelligent investor?

ValueWalkPremium is a website and newsletter for smart investors like yourself. We focus on the latest hedge fund industry news much of which is not in the public domain and obtained via our sources.

We also have 10 years of resources on how to use this information to better your investment process.

Sign up for  today for only a few dollars a day and get a 3 day no obligation trial with a targeted 20% discount coupon code.

Cancel anytime during trial and you are never charged.

Limited time offer: For first 50 subscribers

0