The Nokia Stock saw a surge this Wednesday. The day had been a very active and volatile day for trading. The increase was so random that it did not stop the networking company based in Finland, to make a comment on it.
The company gave a statement owing to the surge in the Nokia stock. It was stated that the company is not responsible for the sudden increase in the volume of trading and the price in the market with regard to its stocks. They mentioned that there were no things that remained undisclosed from the public. This included some developments related to the corporation, any undisclosed material, or any change in the material in the affairs of the business.
Nokia Stock, “The Second-Most Active”
The surge in the Nokia stock that took place was something that had never happened since the time the company began to trade in the year 1991, February. The stock reached a high of 35.5% closing Wednesday at 6.55 USD which was a 2-year high. The volume of trading of the company reached the shares of 1.14 billion. This number is a new record. It went beyond the shares of 47.3 million which was a full-day average.
The Nokia stock made to halt for a total number of five times. This was done due to the volatility. It was halted again for news prior to the comments that the company gave for the movement in its stock.
In the New York Stock Exchange, the Nokia Stock was the one that came second in the list of the most active stocks. They were behind the stock of AMC Entertainment Holding Inc. It is to be noted that while the short interest of Nokia was 50.5 million shares, which is high, relatively, the short interest of AMC was 39 million shares. This was according to the data that was released recently.