NOK: Back to the 90's
Apr 17, 2020


Huawei being squeezed out, Nokia looks ready to run


Nokia (NOK)

BUZZ: +175% BULL

timetodynastydevffb Check out their volume today, too. 83M! It's the highest single day volume since February, and 2-4x "normal" days' volumes. The last times that NOK volume was that high, it literally took a steaming shit shortly after. For added fun, a few days after NOK's crazy volume days in February (2/6-2/7 and 2/26), SPY saw its first two down legs on the way down to 218.  

BEAR

Look at the long-term chart 

Annotation 2020-06-03 085152

The Verdict: We don't see any way western governments use PRC-owned Huawei equipment for their 5G infrastructure after this. Nokia is one of the only other options and should benefit. There are also acquisition rumors so worth taking a shot with a long-term view.