Nokia Oyj's stock plummeted 5.05% during intraday trading, extending losses from earlier sessions. The sharp decline reflects mounting pressure from multiple negative catalysts affecting investor sentiment.

The sell-off was triggered by Nordea Bank cutting Nokia's target price from €15.7 to €14.8 per share, signaling a more cautious institutional stance. Concurrently, the company continues to face selling pressure from a previously disclosed large-scale transfer of 43,552,813 treasury shares, which has created an overhang in the market.

Additionally, the broader Communication Equipment sector exhibited weakness, amplifying Nokia's decline. The stock's retreat also represents profit-taking activity following a recent rally where Nokia surged over 5% after announcing an AI-enabled defense partnership and receiving a target price upgrade from another bank.