Why Are These Stocks Making Big Friday Moves?

Russian online payments leader Qiwi PLC (NASDAQ:QIWI) is off by 12% today as the impact of low oil prices hits home for many traders. Because crude prices have fallen by 5% this afternoon, investors worry that the Russian Ruble will depreciate and that the Russian economy will contract. If the Ruble depreciates, Qiwi’s earnings will be lower in dollar terms, while if the Russian economy contracts, the transactions through Qiwi’s platform could fall too. All-in-all, Qiwi’s earnings results could be worse than expected if present trends continue.

According to our extensive database, the smart money was cutting its exposure to Qiwi PLC (NASDAQ:QIWI) in the third quarter. The number of elite shareholders of Qiwi fell to eight at the end of September from ten at the end of June, while the value of their holdings dropped by almost half, to $81.57 million from $152 million.

Wrapping up our list of movers is Digital Ally, Inc. (NASDAQ:DGLY), whose shares are pleasantly up by 7.13% in afternoon trading. Traders are buying because the United States Patent Office has affirmed the validity of Digital Ally’s ‘292 patent over auto-activation technology for law enforcement body cameras. The patent affirmation will help Digital Ally, Inc. (NASDAQ:DGLY)’s case against TASER International, Inc. (NASDAQ:TASR) over potential infringement concerning TASER’s Axon Signal technology.

Disclosure: None