On June 5, Nokia declined 3.07% overnight, trading at $16.11/share, with trading volume of $115,700.

On the news front, Nokia's pullback reflects continued profit-taking following a sharp short-term rally. The stock surged from a May 29 low of $14.78 to an intraday high of $17.435 on June 3, accumulating an 18% gain in just a few sessions. This rapid advance was driven by NVIDIA's strategic acquisition of approximately 3% of Nokia's shares for nearly $1 billion, the GTC Taipei conference catalyst, and strong Q1 results showing adjusted operating profit up 54% year-over-year with AI and cloud revenue growing 49%.

The accumulated profit-taking pressure continues to unwind as the broader communication equipment sector remains weak. Nokia's Helsinki-listed shares fell 8% on the same day, with European market sentiment further weighing on the US-listed ADR. Within the sector, Lumentum fell 3.3%, Applied Optoelectronics dropped 4.86%, Ciena declined 2.72%, and Arista Networks lost 1.81%, reflecting broad-based selling across optical and communications names. Despite robust fundamentals, with the stock up over 140% year-to-date, elevated valuations have increased market sensitivity to short-term corrections.

(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.)