Yandex NV (YNDX) was started as a government search system initially, and became the biggest search engine of Russia. The Amsterdam-based company had nearly 62% of the country’s market share in February, followed by global search giant Google Inc. (GOOGL) with a 26% share. The website attracted nearly 66 million unique visitors in January. However, the first quarter of this year has not been that auspicious for the company.
The turmoil in Ukraine has escalated tensions between Russia and the West, and also for investors whose money is tied into Russian stocks. While Russia builds up its military presence near Crimea, investors are jumping ship and opting out of their investments amid the crisis. Here are four Russian stocks in tech and telecom that have taken a hit.
By Emerging Money:
By Richard Rittorno
As we head into the year’s end many traders look to close weak non-performing positions and look to replace them and start fresh in the New Year. Setting our screens to search for value stocks that have the potential to outperform in 2012, Russian internet company Yandex (YNDX) pops up.
Investment U submits:
By Tony D’Altorio
This past week, another hot technology IPO hit the market with a substantial sizzle. Yandex N.V. (Nasdaq: YNDX), Russia’s largest online search engine, debuted with near-record results.
Shares of Yandex NV (YNDX), the Russian internet giant, declined today following news that the country’s antitrust agency had launched a full investigation into the contextual ads that the company had placed on its search engine.
Russia’s Federal Antimonopoly Service (FAS) released a statement on its website, confirming that it had found Yandex’s gambling ads to be in violation of local laws, and was making arrangements to hold the company liable in court.
MOSCOW — President Vladimir Putin on Thursday called the Internet a CIA project and made comments about Russia’s biggest search engine Yandex, sending the company’s shares plummeting.
The Kremlin has been anxious to exert greater control over the Internet, which opposition activists — barred from national television — have used to promote their ideas and organize protests.
Trader Mark submits:As expected the flavor of the week, "Russia's Google" Yandex (YNDX) has very strong interest (Yandex - Next Week's Hot IPO?) and is pricing above the top end of the range ($20-22) expected late last week, at $25 or $1.3 Billion. This will give the company a market capitalization of about $8 Billion assuming the stock stays at the offering price, which surely it will not.