This falls squarely into the "buy on the rumor sell on the news" pattern we see shortly before every Apple announcement. There was a run-up on Nokia stock in t

This falls squarely into the "buy on the rumor sell on the news" pattern we see shortly before every Apple announcement. There was a run-up on Nokia stock in the preceding week, quite possibly out of the hope that Nokia was going to make a drastic move or sell outright to Microsoft or Google. You can't interpret stock signals on such a short-term basis. A better snapshot of the market's confidence in Elop would be to look at NOK performance since his hiring (since many have been predicting this move for MONTHS) - NOK is up over %15 since September 2010.