Can Nokia Stock rebound?

I like stocks that have dropped 50-90% One stock is NOK It had dropped to US$1.70 on July 2012 and have since rebounded after news of Microsoft buy over the company. I bought at $4.50 and sold at US$6.50 a neat 50% gain in 3 months.

I bought the shares because Nokia, being the former bellwether of the industry, lost its dominant position in the smartphone market when its Symbian operating system failed to keep up with the likes of Apple and handsets using Google's Android software. 

Therefore I reckoned the company is worth some value due to its 2nd position in the phone maker market and that a white knight would come in to rescue.

True enough, shortly after Microsoft came in to buy over Nokia. The company had also hoped to remedy that by teaming up with Microsoft, launching several Lumia phones based on the Windows operating system.

Despite the bad quarterly figures, Mawston said Nokia still remains the No. 2 phone maker worldwide.

"They are still a major player in the market. There is still an opportunity for recovery there. It only takes one killer device to rebound in this fast-moving market and they can be back in the game," he said.

"Nokia is struggling but it can rebound."

The company is also being squeezed in the low-end "feature phone" market by Asian manufacturers making cheaper phones, such as China's ZTE.

Analysts say the company still has a long way to go to boost its smartphone market share.

I had forseen that the going will be tough in the phone market with Blackberry seemingly suffering the same fate. I had since switched out of Nokia into Blackberry