OGZPY - RSX: Panic Brings Opportunity
Everybody who follows Russian stock market knows what happened: U.S. announced new sanctions on certain Russian citizens and Russian companies and the Russian stock market tanked. The daily loss of Russia-focused ETF, VanEck Vectors Russia (RSX), exceeded 10% on one trading day. In my opinion, this panic will create an opportunity in RSX. Here’s why.
While the new sanctions list includes a number of individuals and companies, the real hit is on Rusal, the Russian aluminum producer. Rusal shares have been decimated following the sanctions news. However, Rusal is not among RSX holdings,