Using the drop in Nokia stock price to scale into shares
KEY POINTS FROM THIS ALERT:
- We are using yesterday’s post-earnings fall in Nokia (NOK) shares to scale into the position and dramatically improve our cost basis for our original NOK position we added on September 18, 2017.
- We continue to rate the shares a Buy and our long-term price target remains $8.50.
Following yesterday’s sharp drop in the shares of Disruptive Technology investment theme company, Nokia that occurred despite the thesis confirming earnings report, we are scaling into NOK shares this morning to improve our cost basis. We see strong medium to longer-term opportunities associated with 5G deployments and expanding base for Nokia intellectual property business beyond smartphones. We previously shared we would look to scale into the shares below $5.50 and we are doing just that today as the shares opened at $4.99 per share
We will continue to be opportunistic in building out the Tematica Select List’s exposure to Nokia in the coming weeks, provided we are able to improve our average cost basis for the shares amid confirming data points for its respective businesses.
- We are issuing a second buy signal on Nokia (NOK) shares, which opened this morning at $4.99 per share.
- Our price target on Nokia (NOK) shares remains $8.50 and our rating a Buy.
