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Investors took profits on Friday while they could ahead of the weekend, explained Tom Essaye, founder of Sevens Report Research. Saturday and Sunday could easily bring unfortunate news on the war front—and traders would rather be able to sell any recent winnings at Friday’s earlier prices than wait for a potentially lower price at Monday’s open. Just days after Russia invaded Ukraine, Durov wrote that Telegram was "increasingly becoming a source of unverified information," and he worried about the app being used to "incite ethnic hatred." In 2018, Russia banned Telegram although it reversed the prohibition two years later. This provided opportunity to their linked entities to offload their shares at higher prices and make significant profits at the cost of unsuspecting retail investors. "Like the bombing of the maternity ward in Mariupol," he said, "Even before it hits the news, you see the videos on the Telegram channels."
from cn