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Need a Reason to Invest in Nokia Stock? Here Are 100 of Them

Finnish technology company Nokia (NYSE:NOK) provides state-of-the-art software and network equipment on a global scale. For investors, Nokia stock is an affordable way to capitalize on the expanding international 5G revolution.

Dark clouds over Nokia (NOK) brand name on top of a building in Helsinki, Finland
Source: RistoH / Shutterstock.com

It’s amazing to think that a penny stock (defined by the U.S. Securities and Exchange commission as a stock trading for less than $5) can represent a global 5G leader and dealmaker.

But here it is, a tech company whose shares are accessible to just about anyone with a brokerage account and the willingness to take a chance on the future of 5G.

Need more information to wet your beak? Here’s why Nokia is becoming a front-runner in the race to dominate the global 5G product market.

The Past and Future of Nokia Stock

It’s not often that we see such a disconnect between a company’s real value and its share price. Amazingly, a share in the company has only cost around $4 throughout October.

In fact, the Nokia stock price started 2020 fairly close to that $4 level, and various market forces keep bringing it back to that price point. What kind of strange magnetic pull is at work here?

The important thing to know is that Nokia has been much higher than this in the past. When the company was a premier manufacturer of mobile phones, the share price ran up above $30.

Unfortunately, though, other mobile phone makers took control of the market. The bull run in Nokia stock was temporary — at least when it came to mobile phones. But now that the company has reinvented itself as a 5G powerhouse, things are looking up. The optimistic take? This tech stock has had legs before, and it could have legs now. There’s a good chance Nokia will be a comeback kid.

100 Deals and Running

I promised to give you 100 reasons to own Nokia stock. So, let’s cut right to the chase. If you can believe it, Nokia achieved a mind-boggling milestone when it recently achieved 100 5G deals plus 160 commercial 5G engagements.

With numbers like that, the company represents not just a force behind the world’s transition to 5G, but the ultimate dealmaker in this space. Tommi Uitto, president of Mobile Networks at Nokia, indulged in a well-earned humble brag:

“We are thrilled to have passed this 5G milestone. We know we still have work to do and that the market remains highly competitive. But, we are moving fast – and these wins make it clear that our progress is being validated by customers.”

Uitto’s not engaging in empty braggadocio here. Nokia now has a significant footprint in all of the world’s early 5G adopter markets, including deals with the top four communication service providers in the United States as well as the top three providers in Japan and Korea.

Of course, there’s no way to provide details on all of Nokia’s significant deals. Instead, here is a typical, recent example of the company’s newfound prowess in the space.

Not long ago, Nokia beat out rival Huawei as it was selected by Orange (NYSE:ORAN) and Proximus (OTCMKTS:BGAOF) to help them build 5G networks in Belgium. Uitto noted that the deal with Orange was years in the making:

“I have tried to become RAN (radio access network) supplier to Orange Belgium since 2003 when the company was still Mobistar. Here we are, finally.

It’s possible that U.S. pressure to exclude the China-based Huawei may have driven the decision to choose Nokia. Regardless of the rationale, though, it’s another big win for the company and its stakeholders. It is also a promise that Nokia’s future looks bright.

Bottom Line

Okay, so maybe I didn’t exactly give you 100 different reasons to own Nokia stock. But looking past this transgression, I think you can understand why. Nokia’s recent deal-making is a sign that something special has been injected into the company’s lifeblood.

I strongly suggest that you take a closer look at this multinational 5G market front-runner, especially as its current share price is practically irresistible.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article.

David Moadel has provided compelling content — and crossed the occasional line — on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.

Article printed from InvestorPlace Media, https://investorplace.com/2020/10/need-a-reason-to-invest-in-nokia-stock-here-are-100-of-them/.

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