Some Russian companies have recently been valued at more than a $100 billion. Now, they are penny stocks.
The London market has doled out severe punishments on some of Russia’s largest businesses. Traders are dumping shares in response to tough new sanctions punishing Moscow for the invasion of Ukraine.
While Russia’s stock market has been closed for days by order of the country’s central bank, the dollar-denominated secondary listings of Russian companies in London are still trading. The destruction of market value is astonishing.(more)
