Nokia not aware of any reason for share surge - Metro US

Nokia not aware of any reason for share surge

FILE PHOTO: Visitors gather outside the Nokia booth at the Mobile World Congress in Barcelona

(Reuters) – Finnish technology firm Nokia said on Wednesday it was not aware of any reason for the continuing surge in its share price.

“Nokia is not aware of any material, undisclosed corporate developments or material change in its business or affairs that has not been publicly disclosed that would account for the recent increase in the market price or trading volume of its shares,” it said in a statement.

Nokia’s U.S.-listed shares surged to $9.79 on Wednesday, up 133% for the week, to their highest level in 10 years.

By 1835 GMT Nokia shares were up 35%. Trading in the stock was halted in United States several times on Wednesday.

The stock is among top retail investors’ favourites of the week, along with GameStop and AMC, driven up after frenzied discussion on Reddit threads.

(Reporting by Tarmo Virki in Tallinn; Editing by Chris Reese and Giles Elgood)

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