What the heck is happening to Russian stocks? Russian stocks are trading at PENNIES. According to Barron's:
“[Russia’s largest bank], which recorded assets of more than $500 billion as of December, had a market capitalization of more than $102 billion six months ago, according to Dow Jones Market Data. It is now less than $190 million, based on a total extrapolated from the London listed-shares.
Another stock I saw today:
Lukoil is a Russian oil stock, trading down 86% year-to-date
But it has a 65% dividend yield and a 1.5 P/E according to Google
What will happen with this stock? Like the company didn't die…right? Sanctions don't kill a $75 billiion company in two weeks…right? If the company was actually dead it would be at 0, not at $12 per share (still a $10 billion market cap). But if the company is still operational then does that mean this is a screaming buy? The fundamentals are too crazy not to buy?
Sorry I'm just really trying to figure out how to make sense of these collapsing stock prices. What does it mean for investors in these companies?
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