Should I buy stocks from Nokia (NOK)?

Asked 4 years ago

I'm checking out some of the stock on the market and trying to pinpoint which ones would be a good idea to invest in. It looks like Nokia could be a reputable company to buy shares in. Should I do it?

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Andrew Moran

Thursday, June 10, 2021

The Nokia stock has gotten a reputation of being a meme stock, with Reddit traders pouring into the company and scooping up shares. But this is one of those low-risk / high rewards picks because the price is trading around $5 to $6 and it used to be as high as $60.
It has a similar feeling to General Electric (GE). The multinational corporate titan used to be a premier stock, but it plunged and now it is on the up again.
There is no reason why Nokia cannot experience the same pattern.
Interestingly enough, there are zero "Sell" ratings among analysts. It is mostly either "Buy" or "Hold." Morgan Stanley also upgraded from equal weight to overweight.
Unlike some of the other meme stocks, the professionals on Wall Street seem bullish on Nokia.