Shares in Russian social media giant VK soar more than 45% in just a few days

Source: Forbes

Shares in the Russian media holding company VK have risen more than 45% since October 29, Forbes Russia reported. The stock gained 25% on November 2 alone, forcing the Moscow Exchange to activate a special trading mode triggered when an asset’s price moves 20% or more within 10 minutes.

VK shares continued rising from October 29 to November 2, peaking at 219.95 rubles. The price began falling on the morning of November 3, and by 8 a.m. Moscow time, shares had dropped 3.02% to 208.85 rubles.

The rally began after VK released its financial results for the first nine months of 2026, in a report published October 28.

VK’s revenue grew 15% year-over-year to 128 billion rubles, according to unaudited figures, with social networks and media content accounting for the bulk of that amount: 91.3 billion rubles.

The report disclosed financial details for the Max messenger for the first time: its revenue from business services and advertising for July through October totaled 700 million rubles, less than 1% of the group’s total revenue for the nine months. Max’s monthly audience already exceeds 109 million people, according to the report.

VK’s net debt fell 11% from the end of 2025, to 73.3 billion rubles.

Analysts doubt VK’s sharp stock rise is justified by its financial performance. Investment blogger Yevgeny Kogan said the rise is speculative. Experts also say VK’s financial position could be affected by recent drone attacks on data centers belonging to Yandex, as well as the risk of similar attacks on VK’s own data centers.

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Shares in Russian social media giant VK soar more than 45% in just a few days

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Shares in Russian social media giant VK soar more than 45% in just a few days

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