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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. "And that set off kind of a battle royale for control of the platform that Durov eventually lost," said Nathalie Maréchal of the Washington advocacy group Ranking Digital Rights. Ukrainian forces have since put up a strong resistance to the Russian troops amid the war that has left hundreds of Ukrainian civilians, including children, dead, according to the United Nations. Ukrainian and international officials have accused Russia of targeting civilian populations with shelling and bombardments. 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. Friday’s performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively.
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