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Nokia not aware of any reason for share surge

Published 01/27/2021, 03:23 PM
Updated 01/27/2021, 03:26 PM
© Reuters. FILE PHOTO: Visitors gather outside the Nokia booth at the Mobile World Congress in Barcelona

(Reuters) - Finnish technology firm Nokia (NYSE:NOK) said on Wednesday it was not aware of any reason for the continuing surge in its share price.

"Nokia is not aware of any material, undisclosed corporate developments or material change in its business or affairs that has not been publicly disclosed that would account for the recent increase in the market price or trading volume of its shares," it said in a statement.

Nokia's U.S.-listed shares surged to $9.79 on Wednesday, up 133% for the week, to their highest level in 10 years.

By 1835 GMT Nokia shares were up 35%. Trading in the stock was halted in United States several times on Wednesday.

The stock is among top retail investors' favourites of the week, along with GameStop (NYSE:GME) and AMC, driven up after frenzied discussion on Reddit threads.

Latest comments

So Finnish to be shamed if you have a great product. I know, I'm finnish. We have weird sense of humor. and making money, is kinda not cool, you know🙃😉
They will have a lot of dividends to pay if they reinstate it.
And so what? Nokia management is bothered from the increase in their stock price? Instead of taking the opportunity
Bull bull bull market. Buy before it's too late
Bull bull bull market. Buy before it's too late
Take these hedge funds to task! Short squeeze incoming
💎🙌
Reuters was one of THOSE ###### who shorted GME,think they have short position in NOK
I have not checked, but I think not much if at all. Who would be against coming behemoth if 5g? Welk some do, put it is not the thing with Nokia. Nokia is a value buy, long-term invest, with a huge potential for a huge growth, it has done it before( 1990-2000)
This will be last day ever that Nokia could be bought under 4€.
it can start to grow fast, because of all this attention it is getting out of this. Just what Nokha lagged. Now it has a-Solid company -Solid Finances -Solid partnerships -Solid plan-Solid, even an unique 5g technique and others.
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