Russian search engine Yandex who is called that Google of Russia hits the market today with the symbol YNDX. They also were priced above the high range of what was expected. They priced last night at priced $25 a share for its initial public offering. By the time it hit the open market the stock was over $30 per share. I bought it at $31.87
I have been looking forward to this stock as much as I did for Google and Baidu. Yandex is the clear cut leader in its field. While Google runs the US search market. It is not king around the world. Baidu runs China and Yandex runs Russia. It’s not even close with the company getting close to 65% of the market.
While the stock is a must buy. It is not a buy and dump stock. It is not like say LinkedIn that was boosted by public buzz. I say again; LinkedIn is not a leader its field. I said the stock would get stable at $60 to $85. It’s now almost there at the range. Yandex will not have that issue. It will keep its gains for the long term. LinkedIn may have had the second-highest IPO performance of the year but at the end of the day if you did not flip early you were left in the cold. That stock closed down 5% for the day Monday. The point is LinkedIn was for a quick buck. Yandex is a great addition to your portfolio.