Are Nokia shares expected to rise?

22. 07. 2021 Thursday / By: Robert Denes / Business / Exact time: BST / Print this page

A mid the drastic changes that have taken place in its business, Nokia continues to attract the attention of investors, which is a very good direction for the investor sector. As the leading manufacturer of Finnish mobile phones in the 5G era, Nokia redefined itself as a set of telecommunications tools that also drew the attention of Reddit as meme stock traders, partly due to the low price per share.

Meme stocks offer less scope for sharp upward movements that traders can take advantage of. You may have read several times recently that Nokia shares rose higher after the company revealed it was raising guidance in the next quarter. The announcement raised the stock price by 9% on July 13, and in the days since then it has largely retained those gains, closing trading at $ 5.81 per share on Tuesday.

Increased attention from Reddit WallStreetBets subreddit traders has sparked speculation. Some believe the company’s July 29 earnings announcement, when management unveils its new guideline, could push the stock much higher. Nevertheless, despite the recent rise in stock prices, Nokia’s market ceiling has fallen by about 4% over the past five years. We note that at the announcement on July 29, shares of the telecommunications company may peak again. Well, it's not hard to calibrate a little bit that whoever buys a stock "today" can only make a profit on it. In the age of smartphones, mobile phones are no longer a high priority for Nokia but its mobile network division is creating radio access networks (RANs) and base stations that reinforce wireless private networks.

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