The Nok Airlines Public Company Limited (OTCMKTS:NOKPF) stock was in a pretty bad space last Friday when it crashed by an astonishing 90%, however, this morning the stock has been in recovery mode.
The Thailand based airline company has been hit hard by the coronavirus pandemic and the continue problems in the tourism industry has hurt Nok Airlines. In addition to that, in recent weeks there has been a steady rise in the number of coronavirus cases.
That has further ruined Thailand’s plans to open the country up to tourism again. Many airlines had been hoping for the reopening of the tourism sector in a big way in order to make a comeback of sorts. That being said, it is also necessary to point out that the Nok stock has had a pretty volatile time this year so far. Back in March, the stock rallied strongly and went up to $13.40 a share from only 4 cents a share. However, it could not hold on to those gains.
Market Action:
At the time of writing, NOKPF stock is up by 10 cents or 21% to $0.30. The stock has seen a total volume of 3.64 million shares, compared to its average volume of 124K shares.
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