Nokia stock price plunges 8% on a potential loss of Verizon business, stock downgrade

By: Invezz

Shares of Nokia (EPA: NOKIA) have plunged around 8% in today’s trading session after JPMorgan warned that the tech firm may lose Verizon, one of Nokia’s key clients. Nokia stock price has now erased all gains from earlier in the week, trading nearly 7% in the red on a weekly chart. Fundamental analysis: JPM downgrades the stock  JPMorgan, the US-based banking giant, downgraded Nokia stock to “neutral” from “overweight”. The bank said that there’s a “real risk” that Nokia may lose Verizon business, one of its biggest clients.  “We believe that there is a real risk Verizon will depend less

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