Shares of "Yandex" Continue to Fall in Price
OREANDA-NEWS The shares of the group of companies "Yandex" (registered in the Netherlands) on the Moscow stock exchange sharply fell. In five minutes, from 16:30 GMT on 19 October, the value of securities fell by about 150 rubles apiece — with more than 2 thousand rubles to RUB 1851 At the peak of the fall, the stock price has decreased compared to yesterday's close of trading (2235 RUB) by 17.18%.
The price of securities on the NASDAQ exchange is also declining, but much slower-at a minimum, the stock price fell to $28.28, which is about 4% below the closing level of previous trades. However, on the eve of 18 October, on the NASDAQ was a real collapse — during the day the shares of Yandex NV fell by 17.81%. As a result, the company's market capitalization decreased by more than $2 billion - from $11.78 billion to $9.68 billion.
Analyst "URALSIB" Konstantin Belov notes that on Friday trading securities "Yandex" on the NASDAQ opened a slight increase, but soon again replaced by a fall. "As the level of quotations of "Yandex" supported by foreign investors, a drop in prices occurs on Masuria. In addition, the company has a lot of small investors who in a similar situation begin to speculate on shares or simply fold them on the eve of the weekend, which also affects the dynamics of quotations," the analyst explained.
The collapse of quotations of 18 October occurred after the newspaper "Vedomosti" and the publication of The Bell announced that the Bank that owns it now only a "Golden share" of Yandex intends to become a major shareholder of the Internet company, or even take her under his control, and the management of the savings Bank this message is denied.
"The fall of the shares of "Yandex" on the NASDAQ suggests that investors believe the rumors of the impending deal. Dynamics of quotations on Masuria repeats the movement on the NASDAQ. I do not rule out that the second wave of sales on Friday evening on Mosbirzh may be due to the fact that the employees of the funds, which are minority shareholders, asked for clarification to the managers of Yandex and perhaps they heard something that they did not like, "explained analyst" Opening Broker" Timur Nigmatullin.
At the end of the day the price of shares of "Yandex" on the Moscow stock exchange amounted to 1870 RUB (minus the 16,33% of the time of closing of the previous auction), on NASDAQ — $28,6 (minus 3,02%).