Jim Cramer Highlights NVIDIA’s Stake in Nokia

Nokia Oyj (NYSE:NOK) is one of the stocks Jim Cramer recently talked about. Cramer discussed the company’s sudden rally after NVIDIA added a stake in the company and commented:

“Nvidia takes a $1 billion stake in Nokia. Yes, Nokia, remember them? That’s a 2.9% stake, 166 million shares at $61. They’re partnering up to work on AI native mobile networks and AI network infrastructure. The goal is to make everything faster. Now, look, I think that’s terrific, but more importantly, if you own Nokia, you just made 23% in one day as the stock roared from $6 and 42 cents to $7 and 77 cents and traded, by the way, as high as $8 and 19 cents.

Now, till today, I don’t think many of us were really paying much attention to Nokia anymore. I certainly wasn’t. It felt like the stock had been left for dead for years. In the year of magical investing, though, the investors who believed that Nokia was more than just a river in Finland, well, they just caught a windfall. It’s incredible, this kind of thing. It’s not supposed to happen.”

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Nokia Oyj (NYSE:NOK) develops mobile, fixed, and cloud network solutions, including 5G, optical, and IP network technologies.

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Disclosure: None. This article is originally published at Insider Monkey.