Nokia shares hit $3 in Europe and in US pre-market trading

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imageNokia’s shares are on the rebound, growing more than 60% in the last month and 70% since their 18 year low hit in July, outperforming industry darling Apple over the same period. Investors who jumped in at that stage would have nearly doubled their shares over only 5 weeks.

The share price is now touching $3 in trading in Europe, with the shares exchanging for 2.441 Euro ($3.06) on the FTSE at the time of writing. It has also hit $3.00 in pre-market trading in US.

The good performance may be due to a number of positive factors, including better than expected performance of Nokia’s dumb phone line, the expectations of their Windows Phone 8 announcements on the 5th September, strong rumours of a release on Verizon, one of the largest US carriers, and even a recent opinion that the company is sitting on a “patent goldmine”.

While Nokia still has very far to go to get back to their glory days, it will only have to go to $6 to pay back all those who invested since December last year, and those who jumped in when the company was at its lowest must be smiling very broadly now.

Via Insideris.com

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