“Russian Stocks in London Wipe Out 98% of Value in Two Weeks”
March 2, 2022
“The Dow Jones Russia GDR Index, which tracks London-traded Russian companies, has plunged 98% in two weeks. The slump has wiped out $572 billion from the market value of 23 stocks, including Gazprom PJSC, Sberbank of Russia PJSC and Rosneft PJSC, according to Bloomberg calculations…
The Dow Jones Russia GDR gauge, which tracks 11 of the largest Russian companies listed in London, fell as much as 81% Wednesday, taking a decline since Feb. 16 to 98%.
Depositary receipts for Sberbank have slumped 99% this week, while Gazprom fell 98% and steel producer Severstal PJSC lost almost 100%. Rosneft Oil Co. tumbled 79% and Lukoil PJSC sank 99%…”
https://finance.yahoo.com/news/london-listed-russian-stocks-erase-140725263.html
THIS IS THE TIME TO BUY THEIR STOCK. 99% drop? Can’t get much lower. I have to look into this section of the market myself. Since there’s pretty much no recovering from that Some people may want to wait a little to see if some companies go bankrupt but don’t wait to long or you’ll miss your chance.