Why Yandex N.V. (YNDX) Is Plunging Today

NEW YORK (TheStreet) -- Yandex N.V.  (YNDX) was plunging 12.62% to $32.81 at 10:49 a.m. EST on Monday after Russia invaded the Ukranian region of Crimea.

Russia's invasion allowed it to occupy several strategic locations in Crimea. The U.S. and other Western nations quickly denounced the encroachment and warned Russia to back off or face the consequences. In the wake of this news, several Russian companies fell in morning trading on Monday.

Yandex, a Russian Internet company that operates the largest search engine in the nation, was one of the biggest sufferers with a double-digit percentage drop. QIWI (QIWI), which provides payment services, also fell, as did VimpelCom (VIP) and Mobile TeleSystems (MBT), two Russian mobile telecommunications companies.

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TheStreet Ratings team rates YANDEX NV as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate YANDEX NV (YNDX) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and growth in earnings per share. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive."

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