On July 13, Nokia fell 3.09% in regular trading, trading at $11.725/share, with turnover of $239 million. Multiple bearish catalysts converged to drive the stock lower during the session.

On the news front, Nordea Bank cut its target price for Nokia from €15.7 to €14.8 per share, reflecting a more cautious institutional stance that weighed on market sentiment. Simultaneously, the company's previously disclosed transfer of 43,552,813 treasury shares along with a management transaction (Fisk) continued to exert selling pressure on the stock. Additionally, following a rally of over 5% on July 9 — driven by a partnership with NestAI on AI-enabled defense solutions and Bank of America raising its target to €15.6 from €14.4 — short-term profit-taking momentum remained evident.

The broader Communication Equipment sector also traded under pressure, with Applied Optoelectronics down 6.52%, Ondas Holdings down 4.48%, Lumentum down 3.72%, Cisco down 2.93%, and Arista Networks down 0.79%, amplifying the sector-wide drag on Nokia shares.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)