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Why Nokia Stock Sank 9.2% Today

TheMotleyFool

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Why Nokia Stock Sank 9.2% Today: https://g.foolcdn.com/editorial/images/843664/datacenter.jpg

Shares of Nokia (NYSE: NOK) fell on Wednesday, finishing the day down 9.2%. The drop came as the S 500 and the Nasdaq Composite gained 0.3% and 0.5%, respectively.

Nokia, once known for its ubiquitous cellphones popular in the pre-smartphone era, is reinventing itself once again. Nokia announced on Wednesday that it will restructure into two units -- network infrastructure and mobile infrastructure -- as part of its effort to better serve the artificial intelligence (AI) "supercycle," as the company calls it.

Source Fool.com