Nokia Oyj ( NOK ) shares are trading higher by 1.25% to $4.46 Wednesday afternoon, ahead of the company’s third-quarter earnings report, confirmed for Thursday’s pre-market session.

Additionally, per Reuters, Nokia ( NOK ) is in exclusive negotiations with Bharti Airtel, one of India’s largest telecom companies, for a multi-billion-dollar 5G contract.

This suggests a promising opportunity that could significantly boost Nokia’s revenue and market position in the 5G sector. However, the situation is complicated in that Airtel is also in discussions with Samsung for 5G equipment, Reuters reports.

Why This Matters: The fact that Airtel is exploring options with another major vendor like Samsung introduces uncertainty. Investors might see this as a potential risk, where Nokia ( NOK ) could either secure a major deal or lose part of it to a competitor. If Samsung captures a substantial portion of the contract or if negotiations with Nokia ( NOK ) fall through, it could negatively impact investor confidence.

Additionally, 5G contracts are seen as key drivers for telecom equipment providers like Nokia ( NOK ), given the global push for next-generation networks. This means that news related to such contracts, especially involving large telecom operators in growing markets like India, is closely monitored.

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How To Buy NOK Stock

By now you're likely curious about how to participate in the market for Nokia ( NOK ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of Nokia ( NOK ), which is trading at $4.43 as of publishing time, $100 would buy you 22.57 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, NOK has a 52-week high of $4.52 and a 52-week low of $2.94.