Bearish Wagers on Yandex Climb After 2013 Stock Advance - Bloomberg

Bearish Wagers on Yandex Climb After 2013 Stock Advance - Bloomberg:

"Wagers against Yandex NV, Russia’s biggest Internet company, rose to a four-month high on concern it’s losing market share following a two-fold surge last year.

Short interest on Yandex climbed to 2 percent of shares outstanding Jan. 3, the highest since September, according to data compiled by Bloomberg and Markit, a London-based research firm. The stock rose less than 0.1 percent in New York yesterday. The Bloomberg Russia-US Equity Index of the most-traded Russian companies in the U.S. slipped 1.2 percent, led by OAO Rostelecom. The Russian stock market is closed today for the Orthodox Christmas holiday.

The stock reached a record on Dec. 31 as growth in Russia’s retail sales beat forecasts, indicating a robust market for Internet advertising. Yandex’s share of the online search market dropped for a second week to 61.1 percent as of Jan. 5, the lowest level in a year, data compiled by researcher LiveInternet in Moscow show. The company will report the slowest revenue growth on record in 2014, according to the average estimate of 12 analysts surveyed by Bloomberg."

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