As the news of the Russian financial system gets worse and worse and they keep postponing re-opening their stock market, I'm left with the question:
Can they re-open the market without it being a total dumpster fire?
My opinion is they cannot. At least not until the war is over and the sanctions start to get undone. Because right now if they open it, all they'll have is sellers. And if by some chance there are buyers, it'll be something like the Chinese acquiring a giant share of the Russian economy for $1.29.
And yet leaving it closed means there is no liquidity for Russian companies. The central bank can lend rubles directly but that process is so corrupt it's likely to be of no productive use. And so closed means a further freeze of their economy.
What are your thoughts both as to when they can re-open and what the impact of it staying closed will be.
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