Vimpel-Communications is On the Upside But Scary

Vimpel-Communications (VIP), a wireless communications provider in Russia, has been on the price upside since 2001. But its chart since 2004 is scary. When news was released on December 8, 2004 that VIP owed $150 million in back taxes, the stock took a one-day dive from $38.48 to $30.10. The next day it closed at $27.10. After the initial shock wore off, and the tax bill was reduced to $17.6 million, the stock climbed back.

VIP is a volatile stock so you should follow its news and price pattern very closely before you buy it.