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Why Yandex Stock Popped 5% This Morning

TheMotleyFool

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Shares of Russian tech giant Yandex (NASDAQ: YNDX) dropped for a 16% loss on Friday, after Russian news reported that the Kremlin is backing an effort to limit foreign ownership of marquee local tech firms to just 20%.

Yandex shares got a bit of a rebound this morning, however, rising more than 5% in early trading (and still up 1.5% as of 1:05 p.m. EDT) on positive commentary from Bank of America Merrill Lynch...about last week's stock collapse.

Image source: Getty Images.

Source Fool.com

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