Is Nokia (NOK) Ready To Hit $10 in 2021?

Over the course of the last decade or so Nokia Corp (NYSE: NOK) has moved away from mobile phone manufacturing and become a major player in the telecommunications equipment industry.

While that may be the case, investors need to note that the Nokia stock has been quite volatile over the past few months. In addition to that, it suffered a considerable decline after Nokia announced that it expects its revenues for 2021 to decline significantly. In 2020, the Nokia stock had recorded a decline of 4%. However, Reddit fuelled a rally in January that had come as a bit of a boost for Nokia as the stock managed to hit its lifetime highs.

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While it is true that the stock has been volatile in recent times, it should also be noted that Nokia has signed key strategic partnerships and on top of that, it boasts of a strong cash position. Hence, it could be argued that in the long run, the Nokia stock could prove to be a winner.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.