Nokia Joins GameStop, BlackBerry as a Reddit Trader Favorite
- Nokia shares set for biggest weekly gain in more than 7 years
- Trading volume of Finnish telecom-gear maker’s ADRs soars
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A Reddit forum’s fervor for old-school technology stocks is sending shares in Finland’s Nokia Oyj rocketing toward their biggest weekly gain in more than seven years.
Nokia, which makes telecommunications equipment and is battling for share in the 5G market with Swedish peer Ericsson and China’s Huawei Technologies Co., soared 13% on Monday in Helsinki and added to those gains Tuesday. Monday’s move accelerated after the U.S. market open, as the stock was promoted by users of Reddit’s WallStreetBets forum.