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Why Nokia's Stock Jumped 25% in January

TheMotleyFool

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Shares of Nokia Corporation (NYSE: NOK) rose 25% last month, according to data provided by S&P Global Market Intelligence, following a bullish report by an analyst and after the stock received attention from the Reddit investing crowd.

Nokia's first share price spike happened on Jan. 25, after Swedish analyst firm SEB raised its price target to $4.60 up from $4.25, and reiterated its buy rating on the stock. The firm said that the company was undervalued compared to one of its biggest competitors, LM Ericsson, and investors took notice. The company's share price skyrocketed after the report was published.

Image source: Getty Images.

Source Fool.com

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