Meme Stocks on the Rise: Nokia, Gamestop and Positive Market Indicators

Nokia, a meme stock three years ago, experienced a noticeable rise on Tuesday without any specific news related to the company. Gamestop, another well-known meme stock, has also seen a significant increase in value in recent days. The overall market index closed up 0.6 percent at 10,371 points on Tuesday.

Investors’ confidence indices showed positive signs in both Germany and the United States on Tuesday. In Germany, the ZEW index exceeded expectations. In the US, producer prices rose more than expected in April compared to March, aligning with forecasts for year-over-year increases.

Nokia was one of the most traded stocks and saw an increase of 4.0 percent with higher than average turnover. The demand for meme shares appeared to have influenced Nokia’s rise as well. In other trading news, Nordea declined by 0.9 percent while Fortum strengthened by 1.8 percent.

On Tuesday, Martela (-9.0%) and Ilkka (-1.0%) announced their results. Martela reported figures that fell short compared to the previous year but profits were better than expected due to higher demand during the summer season after strikes shifted turnover into the second quarter