Seeking Alpha

Russian tech/telecom stocks bounce back

  • Clobbered yesterday by worries about Ukraine tensions and the potential for related sanctions, Russian tech and telecom stocks are rebounding strongly today.
  • EPAM Systems (EPAM +19%), headquartered in the U.S. but relying heavily on its Russian ops, is the biggest winner. Shares fell 24% yesterday, with their losses steepening following a mid-day Barclays downgrade to Equalweight.
  • Other gainers: LXFT +18.7%. YNDX +6.4%. QIWI +4.5%. MBT +3%. VIP +1.7%.
Comments (2)
  • WKField
    , contributor
    Comments (39) | Send Message
    And Luxoft (LXFT), with most of their staff in Ukraine, is up at the moment by 19+%. They've done a good job communicating with shareholders along the way as well.
    4 Mar, 03:21 PM Reply Like
  • SA Editor Eric Jhonsa
    , contributor
    Comments (753) | Send Message
    Thanks for mentioning Luxoft. Added it to the post.
    4 Mar, 03:26 PM Reply Like
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