NOK Stock

On July 5^th, 2015, The I Know First algorithm gave a bullish signal of 5.71 for the ticker NOK (Nokia Corporations), which had a strong predictability indicator of 0.16. In accordance with the algorithm’s prediction, Nokia’s shares rose by 3.68% a fortnight after.

Nokia (NOK), the Finnish multinational, reported annual revenues of approximately  €12.73 billion. Furthermore, the company is also listed as the world’s 274th-largest company measured by 2013 revenues according to the Fortune Global 500. Yet the inability of Nokia to penetrate the smartphone industry has distorted the view of many that the communication and information technology company is not as successful as it once was.

The company sold its crumbling mobile business to Microsoft in late 2013, for deal estimated at $7.5 billion dollars, however, recent news has emerged that Nokia is now considering re-entering the mobile phone business. Nokia’s former Windows-based smartphones were not able to compete against the likes of Apple’s iPhone or Samsung Galaxy. Yet, according to the company website, the Finish giants will only re-enter the market it they find the ideal partner for the job. The company argues that similarly to the success of the company’s N1 tablet, the company can produce exceptional smartphones with a right partner. The release of such news has boosted consumer confidence in the company, and is likely to be reason for the rise in the stock price.