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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsOn Russian TV, analyst toasts the end of the country's stock market
Russian markets have been closed for four straight days after the countrys invasion of UkraineRussian stock exchange analyst Alexander Butmanov is toasting to what he is viewing as the death of the Russian stock market.
Butmanov, founder of financial technology company DTI Algorithmic, appeared on a markets-centered television show only to pull out a soda and toast to the end of the market as he knows it, according to local media.
Rest in peace, dear comrade, he said, according to a translation.
The New Yorkers Joshua Yaffa posted the video of the TV moment in a tweet.
The viral moment comes as Russian markets have now been closed for four straight days after the countrys invasion of Ukraine. This represents its longest stock market pause since 1998, according to Bloomberg.
On Wednesday, Equity index provider MSCI Inc. called Russias equity markets uninvestable as the U.S. and other western countries impose harsh sanctions against the country.
The reclassification decision will be implemented in one step across all MSCI Indexes, including standard, custom and derived indexes, at a price that is effectively zero and as of the close of March 9, MSCI said in the statement.
Large Russian companies like Gazprom RU:SIBN, Lukoil RU:LKOH and Sberbank RU:SBER, are now penny stocks as Russian companies collapse in London. Sberbank, which had assets of over $500 billion during parts of 2021, has a current stock price of $0.05 on the London Stock Exchange LSEG, 3.81%.
The rubles USDRUB, -0.21% value has also plummeted in recent weeks.
Article: https://www.marketwatch.com/story/rest-in-peace-dear-comrade-on-russian-tv-analyst-toasts-to-the-end-of-the-countrys-stock-market-11646334929?mod=home-page
Here's a twitter link to the video clip:
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On Russian TV, analyst toasts the end of the country's stock market (Original Post)
blue-wave
Mar 2022
OP
Russian stock markets will not open today, the fifth day in a row. . . .nt
Bernardo de La Paz
Mar 2022
#1
Bernardo de La Paz
(49,005 posts)1. Russian stock markets will not open today, the fifth day in a row. . . .nt
LiberatedUSA
(1,666 posts)2. Not opening a market for fear of it going down just makes it worse.
This isnt going to save anything. Insanity.
uponit7771
(90,347 posts)3. +1, They're literally keeping all foreign money cause rubles are worth less than a 100th of a penny
gab13by13
(21,359 posts)4. What's the difference between a ruble and a dollar? Answer; a dollar.
L. Coyote
(51,129 posts)5. The value of my yacht just went up a million rubles,
and it is still under water.
AntiFascist
(12,792 posts)6. Does this mark a return to Stalinism? n/t