Nokia: shares cool down after recent market frenzy

(CercleFinance.com) - Nokia shares have cooled down on Thursday, following their impressive speculative run yesterday, which saw the share rocket over 20%.


The shares are currently down 9% on Euronext Paris, although are still up 24% this week.

Nokia made a statement late on Wednesday, commenting on recent trading activity.

In the press release, the Finnish company said that it is not aware of any developments that could explain the recent jump in its market price, or trading volumes.

The frenzy comes as Nokia, along with videogame chain Gamestop and Canadian cybersecurity firm BlackBerry, has recently become one of the preferred stocks of r/wallstreetbets, a Reddit forum that brings together day traders who oppose the strategy of short-selling hedge funds.

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