On November 5, VK shares rose 27.3% to 258.35 rubles, and the Moscow Exchange held a discrete auction for the stock. Investors who entered at the end of October nearly doubled their capital, while buyers at the peak of such a momentum face losses in the event of a pullback.
VK's quotes last exceeded 258 rubles on April 28, 2026, and over five years the shares have lost more than 80% of their value. Strong nine-month results partly explain the demand, but after such a sharp jump, the price can reverse downward just as quickly.
What happened with VK shares during trading
In the morning, the exchange interrupted regular trading in VK securities after the price rose more than 20% and held a discrete auction. In this mode, the venue first collects buy and sell orders and then determines a single transaction price to smooth out sharp fluctuations.
By 12:34 Moscow time, quotes had corrected to 240.9 rubles (+21.91%). By 15:15 Moscow time, the price held near 240.70 rubles — 43.10 rubles, or 21.81%, above the previous session's close.
The rally accelerated after VK published its results for the nine months of 2026 on October 28. The company's revenue under IFRS grew 15% year on year to 128 billion rubles, while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 30% to 20.2 billion rubles.
What else is happening on the Moscow Exchange stock market
The current surge continued a wave of buying in the technology sector: as early as November 2, VK shares rose more than 23% at the start of trading, while quotes of other IT companies gained 5–11%. The nature of this rise is speculative play, and it is not yet worth counting on sustained growth across the entire sector, although VK has additional support in the form of decent financial statements.
The Moscow Exchange also holds such auctions during crashes: on November 3, the venue applied this mechanism to shares of MGKL, the parent company of Mosgorlombard, which fell more than 20% after the second delay in bond payments. For VK investors, this is a reminder that a trading pause only smooths out sharp price movements but does not protect against losses.
A new instrument for earning on price fluctuations like the current VK rally will appear on the exchange starting November 10: the venue will launch 27 perpetual futures on shares of foreign companies. Such contracts have no expiration date and allow investors to profit from price movements of global securities without buying them abroad, but the party to the transaction does not become the owner of the shares themselves.
Cryptalist analysis: The VK rally is predominantly speculative in nature: strong financial statements merely provided a pretext, while the main momentum was driven by short-term buying and the effect of the discrete auction. The sustainability of the move will depend on the price's ability to hold above 240 rubles and on the inflow of institutional capital into the Russian IT sector, rather than on one-off bursts of volatility.