Sell Nokia Corporation (ADR) (NOK), Says Jim Cramer

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Sell Nokia Corporation (ADR) (NOK), Says Jim Cramer
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No matter your thoughts on Jim Cramer, for example whether or not you view him as a loud-mouthed buffoon, the CNBC analyst occasionally knows what he’s talking about and sometimes even does it in a manner that doesn’t make you wish to pull your hair out. Albeit, infrequently. Earlier this summer Cramer suggested to his shrinking viewership that they buy Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) stock. Following the announcement that Microsoft Corporation (NASDAQ:MSFT) had purchased the handset maker and its patents, the stock has soared and Cramer is calling for those that listened to him, or had their ears assaulted by him, to sell their shares in Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V).

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Sell Nokia Corporation (ADR) (NOK), Says Jim Cramer

Sell Nokia, says Cramer

“I want people to sell Nokia because I’ve been recommending Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) as a spec,” Cramer told “Squawk on the Street,” after Microsoft’s $7.2 billion deal to buy Nokia’s mobile phone business. “I just think you ring the register.”

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Steve Ballmer, who is retiring, told CNBC, “What’s good for Windows phone will be good for the overall Windows ecosystem.”

In his all too familiar obnoxious tone and snide attitude, Cramer asked, “Steve Ballmer, what did you get here? Steve likes that phone. I saw him use it at my college reunion. [But] I wouldn’t have bought the whole company because I like the phone.”

Cramer also linked the return of Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) CEO Stephen Elop to Microsoft to the Ballmer succession. “It’s a very expensive successor, if that’s what this is all about,” said Cramer.

Elop left Microsoft a touch over three years ago to join the Finnish handset maker. Following the close of Microsoft’s acquisition of Nokia, Elop will head the devices group at Microsoft. Elop is largely considered to be the frontrunner to head Microsoft when Ballmer calls it quits next year.

Finally, Cramer made his contempt for Microsoft’s acquisition acumen well-known—this isn’t a man who speaks in the vague but rather like a pitbull if someone gives him a microphone and solicits his opinion.

“Microsoft needed to do something. It was flailing,” Cramer said. “What it decided to do is let Samsung and Apple have the whole game.”

He also joked that for Microsoft Corporation (NASDAQ:MSFT), the deal is like burning money. “They can do two things, shove the money into a giant furnace or they can go buy this.”

Given the sheer volume of patents that Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) owns, that may prove to be a bit of a Cramerism, which is defined as overstatement shrouded in “know it all.”

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While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. <i>To contact Brendan or give him an exclusive, please contact him at theflask@gmail.com</i>
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