(Reuters) – Finnish technology company Nokia said on Wednesday that it knew of no reason for the continued rise in its share price.
“Nokia is not aware of any relevant undisclosed corporate development or significant change in its business or matters that has not been publicly disclosed that could be responsible for the recent increase in the market price or in the trading volume of its shares,” said company in a statement.
Nokia shares listed in the U.S. rose to $ 9.79 on Wednesday, up 133% on the week, to their highest level in 10 years.
At 1835 GMT, Nokia’s shares rose 35%. Trading on the shares was halted several times in the United States on Wednesday.
The stock is among the favorites of the week’s top retail investors, along with GameStop and AMC, spurred after a frantic discussion of Reddit topics.
Reporting by Tarmo Virki in Tallinn; Editing by Chris Reese and Giles Elgood