During the weekend, it is often a good move for investors to get an idea about the stocks that moved strongly in the previous week and one stock that could be hard to avoid is that of Nok Airlines (OTCMKTS:NOKPF). Nok Airlines is based out of Thailand and the stock is getting considerable traction due to the possibility of a rise in the number of visitors to the Asia Pacific region.
On Friday, the stock was in considerable focus and managed to clock gains of 66%, which took its gains for the whole week to as much as 270%. The pandemic had actually hit the airline very hard and Nok Airlines reported losses even recently.
Recently it was announced that the island named Phuket in Thailand is going to be reopened and considering that fact that it is a hugely popular tourist destination, the Nok stock has gone on a remarkable rally. In addition to that, as much as 74% of the local population has been vaccinated and that has prompted the Thailand government to reopen the country completely. Hence, tourists can now easily have a good time as long as they test COVID 19 negative within 24 hours of their arrival. Hence, it is no surprise that the Nok Airlines stock is soaring.
Market Reaction:
On Friday, NOKPF stock went up 66.39% at $0.1589 with more than 40.35 million shares, compared to its average volume of 6.28 million shares. The stock had moved within a range of $0.0970 – 0.1600 after opening the trade at $0.10. Over the past 52-week, the stock has been trading within a range of $0.0012 – 13.4000.
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