Nokia market cap boosted by $3.5 billion in less than one month on WP8 anticipation

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After months of steady losses and fading market value, and despite repeated downgrading by analysts, it seems Nokia’s share holders is having a bit of a reprieve, with the share price up more than 50% since its 18 year low of $1.69 on the 17th July to $2.64 and rising.

The effect of this rally is that Nokia’s market cap increased from a low of $6.3 billion to $9.8 billion, which is a number which should help deter would-be hostile take overs.

The run up is in anticipation of the release of new Windows Phone 8 handsets, and if Nokia impresses the share price may rise further, and if not it may of course crash again.

The company still has a long way to go, but getting the share price back over 5 would be a major psychological gain, as this was the recent plateau before the most recent slide started in April.

Of course it seems unlikely the share price will reach $11 by the end of the year, which under Stephen Elop’s remuneration package would have allowed him an extra bonus of 750,000 shares.

Do our readers think Nokia will be able to regain its former glory? Let us know below.

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