Alex Webb, Columnist

GameStop May Be a Game, But Nokia Sure Isn’t

Video game stores and cinemas are not, in any real sense, systemically important. Telecoms networks are.

January 28, 2021 at 11:55 AM UTC

Alex Webb is a correspondent for Bloomberg Quicktake. He previously covered the technology, telecoms and media industries in London, San Francisco and Munich.

When does the game stop?
Source: Bloomberg

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The Reddit trading target we really need to talk about isn’t GameStop Corp. or AMC Entertainment Holdings Inc. It’s Nokia Oyj.

While shares of GameStop and AMC have surged as bands of Redditors have piled in, Nokia stock is the biggest gainer in Europe this week for the same reason. At one stage yesterday, shares in the Finnish company that are listed in the U.S. jumped 63% before falling again. That’s a far more worrisome phenomenon.