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

Shares in the Russian media holding company VK experienced a significant surge, increasing by over 45% from October 29 to November 2, 2026, according to Forbes Russia. The stock experienced rapid growth, with a 25% increase on November 2 alone, prompting the Moscow Exchange to activate a special trading mode due to its price moving 20% or more within a 10-minute period.

From October 29 to November 2, VK shares reached a peak of 219.95 rubles before beginning to decline on the morning of November 3, dropping 3.02% to 208.85 rubles. The surge in VK's stock was triggered after the company released its financial results for the first nine months of 2026, published on October 28. VK's revenue grew by 15% year-over-year to 128 billion rubles, with social networks and media content contributing 91.3 billion rubles to this growth.

The report provided financial details for the Max messenger for the first time, disclosing that its revenue from business services and advertising from July to October was 700 million rubles, representing less than 1% of the group's total revenue for the nine months. VK's net debt decreased by 11% from the end of 2025 to 73.3 billion rubles.

Despite the substantial rise in VK's stock, analysts have expressed doubts about whether the increase is justified by the company's financial performance. Investment blogger Yevgeny Kogan suggested that the rise is speculative, while experts pointed out potential risks to VK's financial position, such as recent drone attacks on Yandex's data centers and the possibility of similar attacks on VK's data centers.

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