Please ensure Javascript is enabled for purposes of website accessibility

Why Yandex Stock Slumped Today

By Timothy Green - Updated Mar 9, 2020 at 12:00PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Russian Internet stock is doing much worse than the broader market.

What happened

Shares of Yandex (YNDX -6.79%) were down on Monday amid a broad stock market sell-off. There was no company-specific news from the Russian internet company, but the stock was down 14% at 11:25 a.m. EDT today.

So what

With the major U.S. stock indexes having shed more than 5% by late morning, many stocks were getting caught up in the selling. Another wrinkle for Yandex, being a Russian company: Russia's refusal over the weekend to cut oil production could severely hurt U.S. producers. Whether that development matters here is anyone's guess.

A declining chart.

Image source: Getty Images.

The last major piece of news for Yandex came in February when the company reported disappointing fourth-quarter results. It missed on revenue and earnings, although revenue soared, and its outlook for 2020 fell short of analyst estimates. The company predicted 2020 revenue between 214 billion rubles and 221 billion rubles ($3.1 billion and $3.2 billion), short of the average analyst estimate of 228.6 billion rubles.

Now what

With the stock market continuing its brutal decline, shares of Yandex are getting caught up in the carnage. Whether the stock turns out to be a good investment from here depends on the company's performance in the long run. That's what investors should be focused on.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Yandex N.V. Stock Quote
Yandex N.V.
$18.94 (-6.79%) $-1.38

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 07/05/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.