Nationwide lockdowns in Brazil gave B2W Digital (BTOOY) a 43.5% boost in net sales, q-o-q. According to Statista, E-Commerce sales in Brazil should increase this year by 22.8%, y-o-y. This article will have a quick review of B2W Digital's operations, Q2 2020 operational and financial highlight, and an updated relative value model.
BTOOY, B2W Digital's American Depositary Receipt, is traded in the OTC Markets. Investors are exposed to foreign exchange (Brazilian Real) and liquidity risks. During the first five months of 2020, BTOOY's trade volume was 20,000 demonstrating extreme illiquidity. FX and