NOK Airlines (NOKPF) Stock Attempts To Recover: Time To Buy?

If you are currently on the lookout for airline stocks then it could be a good move to perhaps consider taking a look at the NOK Airlines (OTCMKTS:NOKPF) stock. The stock was in considerable focus among investors yesterday and ended the day with gains of as much as 44% amidst heavy trading volume. It seems that the stock has emerged as a possible reopening play among many investors.

NOK Airlines is the most popular carrier in Thailand and the rally is possibly being driven by the investors’ belief that a rise in vacations to the region in the coming months. NOK Airline suffered considerably in recent months and the losses have been mounting due to the effects of the coronavirus pandemic.

One of the major factors behind the popularity of the NOK Airlines stock at this point is the announcement about the reopening of the major tourism destination Phuket in Thailand. Hence, it is not a surprise that investors are anticipating a surge in tourism in the coming months. At this point, as much as 74% of the local population is vaccinated in Thailand and that has given the local authorities the confidence to open up the country for tourism again.

Market Reaction:

On Wednesday, NOKPF stock gained 43.60% at $0.0775 with more than 35.55 million shares, compared to its average volume of 5.23 million shares. The stock had moved within a range of $0.0550 – 0.1039 after opening the trade at $0.0565. Over the past 52-week, the stock has been trading within a range of $0.0012 – 13.4000.

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