Why Yandex N.V. Stock Popped on Monday
Shares of Yandex (NASDAQ: YNDX) climbed 10.1% on Monday following reports that Russia's government is easing restrictions on foreign ownership in "strategically important tech firms," including the U.S.-listed Russian internet search leader.
According to The Moscow Times, Russia is weighing whether to impose a "50%-minus-one" limit on the percentage of shares that could be owned by non-Russian investors. While that limit might sound strict, it's significantly relaxed from a proposed 20% cap that caused Yandex shares to plunge as much as 18% in a single day earlier this month.
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Source Fool.com
