Nokia had no idea of the unexpected increase in its shares.
Reuters reported that the Finnish electronics company could not explain the skyrocketing of their shares. In a statement, Nokia said it did not know what developments and other factors contributed to the inexplicable growth in the market value of its shares.
Nokia was not a leader in the stock market, so it’s clear that the boost caught the attention of traders on Reddit. Besides Nokia, AMC Holdings Inc. and GameStop generated a strong buzz in the commercial market after posting gains this week.
Nokia shares soar
On Wednesday, Nokia NOK shares rose 107% to -26.56%. It continued to rise at 38.5% and registered $ 6.55, the highest value in two years. It also generates the largest percentage gain for a day since February 1991, when it hit the market.
On a day-to-day average, the total number of shares reached 47.3 million, after its trading volume swelled to 1.14 billion shares. Nokia shares became volatile, causing it to stop five times.
This did not prevent Nokia from moving to second place on the New York Stock Exchange, just behind the 1.25 billion AMC shares.
AMC stock at -58.29% and GameStop Corporation GME stock at -55.37% have become a cushion for investment giants after their “short-squeeze magic”, Market watch Noted.
On September 3, 2012, Nokia shares soared to 31.3% and volume of 591.2 million shares. It came after the Finland-based company sold its mobile and devices division for 3.8 billion euros or $ 5 billion to Microsoft Corporation, co-founded by Bill Gates.
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Since Microsoft’s acquisition, the past three months have seen a 61.7% increase in NOK.
Nokia to launch another LTE flip phone
Nokia has a big surprise for 2021. The announcement of the Nokia TA-1295 is one of the company’s latest revelations, with more phones coming in the future after passing the FCC certification process.
According to an article by Nokia Mob, The soon to be debut Nokia TA-1295 could be a flip phone. It will be the second flip phone to hit the market since the release of the Nokia 2720 Flip and Nokia 800 Tough, both of which launched in September 2019.
(Photo: Screenshot from YouTube / MH TV)
In addition, according to its documents, the Nokia TA-1295 will have the additional features:
1. BV-6A 1500 mAh battery
2. 5W AD-5WU charger
3. USB-a / micro USB cable CA-10W
4.Wh-108 classic helmet
5.It will support both LTE and WIFI
7.removable nano-SIM card
The Nokia TA-1925 could first be tested in China, a perfect proving ground for phones that do not fall under Google’s service. China certified the Nokia 2720 in 2019, and the TA-1925 could either be a new flip phone in the works or an improved Nokia 2720.
Nokia has yet to offer this year. All eyes will be on Nokia when they officially release the new KaiOS flip phone, the Nokia 1.4, Nokia 6.4 and Nokia 7.4.
Associated article: Nokia 1.4 key specs, color options, price leak
This article is the property of Tech Times.
Written by Joen Coronel
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