Cramer Doesn't Buy Nokia (NOK) Takeover Rumors
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After getting killed yesterday on the horrific news of an 10K additional jobs cuts, more restructuring and other general malaise, Nokia (NYSE: NOK) is up nearly 5 percent Friday as takeover speculation has bottom-fishers snapping up shares and shorts covering winning bets.
"It trades at 62% of its net asset values" some would say. "Its patents are worth more than Motorola Mobility's, which Google paid $12.8B for," others would comments. Still others would say, "Microsoft could easily buy it and make a killing."
Market maven Jim Cramer, however, is not buying it. Cramer said if Nokia does get bought out it would be a "take under," meaning a price lower than today's market price.
"It trades at 62% of its net asset values" some would say. "Its patents are worth more than Motorola Mobility's, which Google paid $12.8B for," others would comments. Still others would say, "Microsoft could easily buy it and make a killing."
Market maven Jim Cramer, however, is not buying it. Cramer said if Nokia does get bought out it would be a "take under," meaning a price lower than today's market price.
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