THE PRICE OF THE SHARES OF VIMPELCOM REACHED ITS BOTTOM ON NEW YORK STOCK EXCHANGE
arminfo
2008-05-14 23:24:00
ArmInfo. The price of the shares of Vimpelcom has reached its bottom
and will now begin to grow to average $38 per share.
A source from ArmenTel (subsidiary of VimpelCom) has informed Interfax
that in Jan-Mar 2008 the price dropped from $43 to $31. In 2007 the
price of VimpelCom’s shares grew by over 100%, they were in high demand
and the drop was inevitable. One more reason was the mortgage crisis
in the United States and the stock exchange crisis in the world. As
a result, investors withdrew their money from securities and put it
in less risky instruments like bonds.
This had a negative effect of some Russian companies, particularly,
on VimpelCom.
However, most experts believe that the price will no longer fall and
will go back up to an average $38 per share.