RJ joins Wunderlich in calling Ubiquiti’s Russian exposure a risk • 1:20 PM
Eric Jhonsa, SA News Editor
Three weeks after Wunderlich voiced concerns about Ubiquiti’s (UBNT -0.9%) Russian and Ukranian exposure, Raymond James is doing the same.
While Wunderlich argued Russian orders will be hurt by geopolitical tensions, RJ suggests forex will take a toll - the firm observes both Russia and Ukraine’s currencies have fallen over 30% YTD.
Bulls have argued Ubiquiti’s Russian/Ukrainian exposure is modest, and not a major concern. Shares fell as low as $34.39 in early trading, but have pared their losses since.