NEW YORK ( TheStreet) -- Nokia ( NOK) shareholders are seeing a sizable jump in their investment after Microsoft ( MSFT) announced it will be acquiring its devices business for $7.2 billion.
However, Scott Redler, chief strategic officer of T3Live.com, told TheStreet's Debra Borchardt the move won't likely help Microsoft. Redler said Microsoft is a "dead stock" despite the move, and questions remain about the company's future of once CEO Steve Ballmer steps down. Back in August, there was a lot of September call option buying, indicating an upward move would happen within the next month, he added. After Microsoft announced Ballmer would be retiring within 12 months, the stock ripped higher, to about $35 per share. Since then those gains have evaporated. Redler said he doesn't think there are any positive catalysts for the tech giant in the next six to eight months, but if investors really like the name they can look at a long position somewhere below $32. Follow @BretKenwell