A New Dot-Com Bubble?

Yandex's success and a new pack of Internet IPOs

As expected, the "Google of Russia" debuted on the Nasdaq yesterday with great success. Shares soared more than 55 percent, starting with an IPO price of $25 and closing at $38.84. For Yandex, a company far from a household name in the U.S., the IPO was a triumph. For investors still bruised from the dot-com bubble that burst a decade ago, the stock market frenzy of recent weeks may bring back feelings of unease.

Yandex holds a majority of Russia’s search engine market, and its IPO was the largest of its kind in the U.S.

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