Nokia had no idea how their stock shares rose unexpectedly.
Reuters reported that the Finnish electronics company could not explain the surge in their shares. In a statement, Nokia said that they did not know what developments and other factors have contributed to the unexplainable growth of the market value of its shares.
Nokia was not a frontrunner in the stock market, so clearly the boost caught the attention of the Reddit traders. Besides Nokia, AMC Holdings Inc. and GameStop produced a loud buzz in the trade market after garnering gains this week.
Nokia Stock Shares Surge
On Wednesday, Nokia stock NOK zoomed to a 107% gain from -26.56%. It continued to increase at 38.5% and recorded $6.55, the highest value within two years. It also yields the biggest percentage gain for one day since February 1991 when it invaded the market trade.
On a one-day average, the total shares reached 47.3 million, after its trading volume ballooned to 1.14 billion shares. Nokia's stocks went volatile that caused its stoppage five times.
This did not stop Nokia to move to the second spot in the New York Stock Exchange, just trailing behind AMC's 1.25 billion shares.
AMC's stock at -58.29% and GameStop Corporation GME's stock at -55.37% became a cushion for the investing giants after their 'short-squeeze magic,' Market Watch noted.
On September 3, 2012, Nokia's stock skyrocketed to a 31.3% boost and 591.2 million shares volume. It happened after the Finland-based corporation sold its mobile and devices division for € 3.8 billion or $5 billion to Microsoft Corporation, which is co-founded by Bill Gates.
Since the acquisition of Microsoft, the past three months saw an increase of 61.7% 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 newest revelations of the company, with more featured phones to come in the future after passing the FCC Certification process.
According to an article by Nokia Mob, Nokia TA-1295, which will make its debut soon could be a flip phone. It will be the second flip phone to come out to the market since the release of the Nokia 2720 Flip and Nokia 800 Tough, which were both launched in September 2019.
Furthermore, from its documents, the Nokia TA-1295 will have the additional features:
1. BV-6A 1500 mAh battery
2. 5W charger AD-5WU
3. USB -a/micro USB cable CA-10W
4. classic WH-108 headset
5. it will support both LTE and WIFI
6. removable battery
7. removable nano-SIM card
Nokia TA-1925 might first be tested in China, a perfect testing ground for phones that are not within the scope of the Google Service. China certified Nokia 2720 in 2019, and TA-1925 could be either a new flip phone in the making or an upgraded Nokia 2720.
Nokia has still to offer this year. All eyes will be on Nokia when they officially release the new KaiOS flip phone, the Nokia 1.4, the Nokia 6.4, and the Nokia 7.4.
Related Article : Nokia 1.4 Key Specifications, Color Options, Price Leaked
This article is owned by Tech Times.
Written by Joen Coronel
