Crucially regarding this, and the same thing I have also suspected about the recent rise:
High-rolling investors have positioned themselves bullish on Nokia.. such a significant move in NOK often signals that someone has privileged information.
So I suspect that some group has more information about the future development of Nokia’s optical business, and possibly in connection with Nvidia.
Nokia’s stock ended yesterday in the US with a strong rise, and at a clearly higher level than where the stock closed in Helsinki. And this again happened with strong volume, and exceptionally, the volume was strong also towards the evening. This next upward wave is thus strongly underway now - let’s see how far it takes us. I will most likely make some moves along with this wave. In the short term, I think the stock is now approaching fair valuation.
However, in the long term, Nokia has positioned itself in a unique position, which means that in a positive scenario, it is possible the company is at the beginning of a long-term success story. The stock price just behaves irrationally sometimes, and it is also heavily influenced by external factors.
The chart is on a monthly level, but on a daily level, the ADR closed yesterday at the same price as on the day the Nvidia deal/investment was announced. And on the other hand, the last time there was a close this high was in May 2015.