Petrobras lost R$103.6 billion in market value since the 2022 elections, from R$448.7 billion to R$345.1 billion. Preferred shares fell 25.5% in the period up to the close of Thursday (24 Nov 2022). Common shares fell 21.4%.
On Thursday, common shares recovered by 3.9% compared to the close of Wednesday (23 Nov). Preferred shares increased by 0.1%.
The most recent reduction, of 12.9% (preferred shares) and 10.6% (common shares), took place on Tuesday (22 nov) after the UBS bank downgraded Petrobras' recommendation and reduced the share target price . . .
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