Why Russian E-Commerce Stock Ozon Just Crashed
Investors in Russian e-commerce company and 2020 initial public offering (IPO) Ozon Holdings (NASDAQ: OZON) are discovering the geopolitical risks today.
Less than 24 hours after President Vladimir Putin of Russia declared that he is recognizing two regions of Ukraine as independent states -- and sending in armored columns of tanks to enforce their "independence" -- investors are selling off Ozon stock, to the tune of 6.4% as of 3:25 p.m. ET on Tuesday.
For investors who unfortunately entrusted the safety of their retirement nest eggs to the tender mercies of Putin, this is a situation that's likely to get even worse, as the Russian president's actions threaten to rain down sanctions upon any company tied too closely to Russia.
Source Fool.com
