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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