The actions of IRB (IRBR3) had the biggest rise of the Ibovespa (IBOV) this Friday (20). The shares soared 6.56% and closed the day at R$ 2.60.
According to the analyst Mirae AssetPedro Galdi, today’s high is just a market movement, after the asset has fallen more than 10% between Tuesday and Thursday.
“The short-term bargain hunter saw the opportunity of the strong drop of the last few days and took the opportunity to change position today”, he explains.
The strong drops in the IRB came after the company showed the numbers for the first quarter. for the analyst Land Investments Régis Chinchilla, the investor should not buy the company’s shares, precisely because of the company’s financial problems.
“Even after the net profit jumped 58.4%the company had a negative balance sheet with recurring results showing another net loss, along with operating cash burn of R$ 288 million, resulting in another quarter of reduced capital sufficiency”, says the analyst.
As IRB rises, Petz falls
The actions of petz (PETZ3) had the second biggest drop of the Ibovespa. Assets dropped 5.17% and closed the day at R$ 12.10.
For Galdi, the fall is just another market movement and an exchange of investor positions. “Paper is a good long-term investment; it is worthwhile for the investor to buy shares in the company”, he explains.
See the biggest hikes of the day:
| Company | ticker | Variation |
|---|---|---|
| IRB | IRBR3 | +6.56% |
| Ecorodovias | ECOR3 | +5.48% |
| Hypera | HYPE3 | +4.98% |
| CSN | CSNA3 | +4.97% |
| Bank Brazil | BAAS3 | +3.64% |
See the biggest drops of the day:
| Company | ticker | Variation |
|---|---|---|
| Méliuz | CASH3 | −5.34% |
| petz | PETZ3 | −5.17% |
| Pan Bank | BPAN4 | −3.64% |
| Embraer | EMBR3 | −1.86% |
| Locaweb | LWSA3 | −1.84% |
See the most traded stocks of the day:
| Company | ticker | Variation |
|---|---|---|
| OK | VALE3 | +1.77% |
| Petrobras | PETR4 | +1.93% |
| Itau | ITUB4 | +1.25% |
| Bank of Brazil | BAAS3 | +3.64% |
| B3 | B3SA3 | +1.95% |
Disclaimer
THE Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
