• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Stock

Brazil’s Casas Bahia shares jump 30% in a day, up 77% this month: here’s what we know

by March 12, 2025
by March 12, 2025

The shares of Brazil’s Casas Bahia group (BHIA3) have increased by 77% in March, with a significant 29.91% spike coming in just one trading session on Monday, March 10.

This substantial price movement comes ahead of the much-anticipated announcement of the company’s fourth quarter 2024 (4Q24) earnings on Wednesday, March 12.

According to local media InfoMoney, the stock’s ascent has piqued the interest of investors and analysts alike, generating questions about the fundamental factors fueling this movement.

The company on the massive surge

Casas Bahia sent a statement to the Brazilian Securities and Exchange Commission (CVM) after the Brazilian market closed on March 10.

In the statement, the company said that it was not aware of any undisclosed material facts or events that would justify the unusual trading.

The statement also added that the company reiterates its commitment to keep its shareholders and the market in general informed about any relevant act or fact under the applicable regulations and remains available for any necessary additional clarifications.

Such transparency is intended to ease investor fears, as the share price spike could often suggest deep-seated solvency problems or speculative trade habits.

Dissection of volume and demand

Nord Research told InfoMoney that the massive rally was supported by extraordinarily high trading volume.

On March 10, around 3:30 PM Brasília time, the volume of trading for the Casas Bahia reached 21.8 million shares, exceeding the average daily traffic of 5 million shares for the last year.

This uptick in activity begs the question of whether the trade was driven by a short squeeze.

That forces investors who shorted the stock to buy shares to cover their position, causing additional upward price pressure.

Nord analyst Rafael Ragazi said the company’s substantial short interest, with around 25% in leased circulation, undoubtedly contributed to the fervour.

After falling more than 99% between July 2022 and the end of last month, the company is currently valued at just R$470 million on the stock exchange, Ragazi said.

This remarkable fall in the preceding months makes the latest increase all the more surprising, indicating a turnaround in investor attitude.

XP Research confirmed to InfoMoney that 24.7% of the company’s shares are currently in a short position, a 4.4 percentage point increase in just 14 days.

The rise in short selling means there are a lot of investors who have bet on the stock falling.

What can be expected in the short term?

Market mood remains favourable as the company prepares to report quarterly results on March 12.

Investors will likely focus on the Q4 2024 report for insights into the stock’s recent downturn and potential turnaround plans.

Whether that momentum can be sustained in the wake of the results is uncertain.

The post Brazil’s Casas Bahia shares jump 30% in a day, up 77% this month: here’s what we know appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Musk’s India play: Starlink taps Airtel for satellite internet push amid regulatory challenges
next post
Morse Micro Powers the Next Wave of IoT in Europe with the Launch of its MM8102 Wi-Fi HaLow Chip

Related Posts

Adani Group brings more women leaders into key...

August 28, 2025

Cambricon stock price surged: here’s why it may...

August 28, 2025

India’s instant delivery race hits $15 billion, but...

August 28, 2025

Google to invest $9 billion in Virginia data...

August 28, 2025

Europe markets open: Stocks rise as Nvidia earnings...

August 28, 2025

Russian LNG tanker from sanctioned plant makes first...

August 28, 2025

Sotheby’s to launch first Abu Dhabi auction with...

August 28, 2025

Pernod Ricard shares climb as sales, profit beat...

August 28, 2025

Tesla sales in Europe fall 40% as BYD...

August 28, 2025

Berkshire Hathaway lifts Mitsubishi stake above 10% in...

August 28, 2025

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • Bolivia’s Defeat of Socialism Signals a Continental Realignment

    August 28, 2025
  • Economic Measurement and the Mirage of Exactness

    August 28, 2025
  • Netmore Partners with Detectronic on Multi-Year Wastewater Management Sensor Deployment

    August 28, 2025
  • Bolivia’s Defeat of Socialism Signals a Continental Realignment

    August 28, 2025
  • Economic Measurement and the Mirage of Exactness

    August 28, 2025
  • Eseye Solidifies Global IoT Leadership with Leading Position in Brazil’s High-Growth Cellular Connectivity Market

    August 28, 2025

Editors’ Picks

  • 1

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 2

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • 3

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 4

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 5

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025
  • 6

    Nvidia’s investment in SoundHound wasn’t all that significant after all

    March 1, 2025
  • 7

    Elon Musk says federal employees must fill out productivity reports or resign

    February 23, 2025

Categories

  • Economy (2,356)
  • Editor's Pick (228)
  • Investing (185)
  • Stock (1,593)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

AMD stock price forecast after crashing to...

March 25, 2025

Stoxx 50 index forms bullish pattern ahead...

March 28, 2025

Nio stock price is rallying amid the...

July 15, 2025