Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Nokia Oyj (NYSE:NOK) rose nearly 23% in the regular and after-hours sessions on Monday.
What Happened: Nokia shares surged in part due to the efforts of r/wallstreetbets — a Reddit group with 2.1 million users — but another likely factor is a bullish report from SEB, a Swedish analyst company.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
See also: How To Buy Nokia Stock
The Reddit forum caused a short squeeze in the stocks of several companies including Nokia, gaming retailer GameStop Corp. (NYSE:GME), and BlackBerry Ltd. (NYSE:BB).
SEB, one of the largest financial institutions in Scandinavia raised its price target on Nokia from $4.25 to $4.60 per share and reiterated its Buy rating, the Motley Fool reported Monday.
The analyst firm said that Nokia’s stock is undervalued in comparison with Swedish-rival Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC).
Ericsson stock closed 3.38% higher at $12.23 on Monday.
Why It Matters: Nokia is a leader in 5G, a technology in focus for the foreseeable future.
SEB expects Nokia to restore dividends and is positive on the company’s fourth-quarter earnings report due Feb. 4, the Fool noted.
Price Action: Nokia shares closed nearly 15.5% higher at $4.85 and ran up 7.22% in the after-hours to $5.20.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.