On July 30, Nokia Oyj rose 5.11% in pre-market trading, trading at $8.84/share, with turnover of $11.92 million. The rebound follows two consecutive trading sessions on July 28-29 during which the stock fell a cumulative 10%-plus, dropping from the $9.30 support level to the $8.48 area.

The selloff was triggered by classic profit-taking pressure after Nokia released better-than-expected Q2 results on July 23. The company reported adjusted comparable operating profit of EUR 4.34 billion, up 18% year-over-year and well above the EUR 3.82 billion consensus estimate. AI and cloud business orders reached EUR 2.8 billion with sales doubling year-over-year, while full-year operating profit guidance was raised to EUR 2.1-2.6 billion. Despite the strong results, the stock declined from approximately $10.28 post-earnings as investors locked in gains. Additionally, multiple managers' transaction disclosures in recent days exacerbated short-term sentiment pressure. The current pre-market bounce suggests selling pressure may be temporarily easing following the sharp correction.

(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.)