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Kyivstar launched on Nasdaq as KYIV on Monday and had rallied 22% by its third trading session as investors were quick to buy in on the potential of Ukraine’s largest telecom operator. 

It appears that the stock is benefiting from a period of positive IPO momentum on Wall Street which has encouraged more companies to float shares in the midst of growing investor interest. 

Launching on the Nasdaq as a SPAC, Kyivstar, which is owned by telecoms group VEON, is an undisputed market leader in Ukraine, with more than 24 million subscribers. 

The company has also strengthened its appeal to US markets by appointing former United States Secretary of State Mike Pompeo to its board and striking a deal with Elon Musk’s Starlink for satellite services domestically. 

Prior to its Nasdaq listing on August 19, 2025, Kyivstar's stock soared 13.19% in pre-market trading, pointing to high levels of anticipation for its arrival on Wall Street. 

But could the stock’s status as the first Ukrainian stock to be listed on a US exchange hold meme potential for investors who could liken holding KYIV to a statement of support to the nation as it remains embroiled in conflict with Russia? Let’s take a deeper look at Kyivstar and its unique position on the Nasdaq: 

Investing in Ukraine

Firstly, it’s important to highlight that Kyivstar is a strong player in Ukraine telecommunications and is a large-scale organization with a 5,000-strong workforce. However, much of the statements coming out of the company focus more on KYIV’s role as a political investment strategy. 

“From today onwards, the ticker KYIV will symbolize the opportunity to invest in Ukraine and to be part of the country’s economic recovery,” explained Augie Fabela, Chairman and Founder of VEON, Kyivstar’s parent company, in a press release. “We are confident that the historic listing of Kyivstar will inspire both the American investors to be a part of Ukraine’s recovery and Ukrainian businesses to share their growth potential with global community. Today is a milestone not only for Kyivstar, but also for our call to ‘Invest in Ukraine, NOW!’.”

Given that the stock’s launch coincided with US President Donald Trump’s peace talks with Russian counterpart Vladimir Putin, Kyivstar Group appeared to have resonated with investors looking for stocks to bet on the prospect of a peace deal between Russia and Ukraine. 

While the company offers a level of resiliency with focus on industries beyond telecommunications, like online services, healthcare, entertainment, enterprise technology, and even ride-hailing operations, it’s becoming increasingly apparent that Kyivstar is acting as a satellite for investors to back Ukraine. 

Crucially, the company itself has planned an investment of $1 billion in Ukraine over the next four years, making it a stock that’s closely associated with the national well-being of its area of operation and its infrastructure. 

Meme Stock Potential? 

Given Kyivstar’s Nasdaq listing has positioned the stock as the first pure-play Ukrainian stock in the United States, the move has generated a buzz among retail investors who may be inclined to gain exposure to markets in Ukraine. 

The unusual listing has also generated greater visibility, while its timing has brought more positive sentiment that could help to solidify KYIV’s position as Wall Street’s next key meme stock. 

Although meme stocks like GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC) embarked on memorable rallies because of institutional short interest creating a major short squeeze that pushed stock values higher, a lack of short interest for KYIV doesn’t detract from the stock benefiting from its role as a bet on Ukraine. 

Resonating with Investors

Kyivstar’s listing during the war in Ukraine, as well as its leading role in the prospective economic recovery of the country, means that the stock has the potential to resonate with investors who align with the nation’s ‘underdog’ status amid the conflict. 

It’s this underdog narrative that saw investors catapult GameStop to unprecedented highs in 2021, and should KYIV inspire the meme hubs of social media, we may well see a new player enter the fray when it comes to investing beyond the fundamentals of a company.

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