Hoplite Discloses Nokia Corporation (ADR) (NOK) Short Post-Earnings

Hedge funds who had stayed put in their shorts in the Finnish smartphone company, moved a little in their positions after Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) released 1Q 2013 earnings on Thursday, 18 April. After closing at $3.59 on NYSE on Tuesday, the shares fell as much as 13 percent on the earnings day. Nokia has gained ground on Windows Phones but the company showed decreased sales of feature phones, which apparently did not sit well with investors.

Taking heart from Nokia's decline post-earnings, John Lykouretzos' Hoplite Capital Management decided to join in on...