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Finance

Should You Buy Nokia (NOK) Stock and Is It Undervalued?

WallStreetBets is the Reddit community that the world has come to know well for its role in the GameStop squeeze that cost hedge funds billions of dollars. Many stocks have moved sharply after favorable mentions in the community. Nokia stock has been among the popular discussions on WallStreetBets lately.

The community has noticed that NOK stock hasn’t taken off like other meme stocks in the latest rally. AMC stock has gained more than 160 percent in the past week and 2,300 percent YTD. Naked Brands (NAKD) has soared 45 percent in the past week and 330 percent YTD. GameStop is up 1,200 percent YTD.

Some WallStreetBets investors think that Nokia could be an opportunity for those who missed on other meme stocks. A major advantage the community sees in Nokia is that it has stronger fundamentals than most other meme stocks. However, since Nokia isn’t heavily shorted, an AMC-type pop doesn’t look likely.

View more information: https://marketrealist.com/p/should-i-buy-nokia-nok-stock/

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