There are many stocks which have attracted attention from investors due to the imminent relaxation of coronavirus pandemic related restrictions and one of those is that of Nok Airlines (OTCMKTS:NOKPF). The low cost Thai airline has seen its stock soar in recent days due to rising anticipation about a travel boom to the Asia Pacific region.
However, yesterday, there was a bit of a correction in the stock as it declined by 25%. At the same time, investors should not forget that last week the Nok Airline stock had gone up by as much as 250%. Hence, it might still be a good move to keep the stock in the watch lists in the coming days.
It should be noted that the coronavirus pandemic had completely wrecked the company’s business last year and even recently, the company had been recording losses. However, at the same time, Nok Airlines remains one of the most popular airlines in the region and with the imminent lifting of restrictions in Thailand, it might unleash a stream of visitors to the country. The popular island Phuket is all set to be opened up to visitors soon and that is another positive trigger for the airline.
Market Reaction:
On Monday, NOKPF stock slumped 24.50% at $0.12 with more than 38.32 million shares, compared to its average volume of 6.38 million shares. The stock had moved within a range of $ 0.1100 – 0.1900 after opening the trade at $0.1850. Over the past 52-week, the stock has been trading within a range of $0.0012 – 13.4000.
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