Everybody loves a comeback, well some people love a comeback anyway. After I bought myself a Nokia Lumia 800, after I put my HTC Radar in the washing machine, I have been following news about the Finnish phone maker. The last couple of years have been rough on Nokia, and having worked with some former Nokia guys, I have heard a lot of stories about what has happened there.
It seems like the first Lumias did ok, but not so well to restore Nokia to its once mighty status as king of phone makers. Although they seemed to do ok, it never really became a turnaround for Nokia.
Today, I stumbled across a blog post from WMPoweruser.com who had an interesting bit of news concerning the Nokia stock.
“… found Goldman Sachs has increased their stake in Nokia from 61 million shares to 116 million over the last quarter, an increase of nearly 90%.
Barclays increased their stake by 115%, while Credit Suisse added 94% to their holdings.
Morgan Stanley made the biggest jump, increasing their stake by 400% to 32 million shares.
Overall in the quarter, 112 institutions increased their Nokia shares by 128 million shares, whereas 163 institutions decreased their Nokia shares by 77 million shares. In net, the institutional ownership of Nokia increased to 17%.
The company has a had a recent massive run up on news of early sales success of their new flagship, the Nokia Lumia 920, and is today trading in Europe at EUR 2.56, up nearly 82% from their July low of around 1.404 Euro.”
Personally, I am rooting for Nokia. I think it is pretty cool to have a northern European company that is mingling with big boys like Apple and Samsung. I also hope Windows Phone 8 will take off as a viable third operating system, so we the consumers, won’t have to live with the yoke of a duopoly. So, as Black Friday is about to start in the US, here’s to Nokia making a successful comeback.