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Why Nokia's Stock Is Trading Higher Today

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Why Nokia's Stock Is Trading Higher Today

Nokia Corporation (NYSE: NOK) shares are trading higher after the U.K. announced it would phase out Huawei telecom equipment.

"The U.K.’s National Cyber Security Center launched an emergency review of Huawei’s role after the U.S. introduced new sanctions aimed at cutting off the Chinese firm from key chip supplies," according to CNBC.

Nokia is a leading vendor in the telecommunications equipment industry. The company's network business derives revenue from selling wireless and fixed-line hardware, software, and services.

Nokia's stock was trading up 4.28% at $4.63 per share on Monday at the time of publication. The company has a 52-week high of $5.77 and has a 52-week low of $2.34.

 

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