2024-06-24 12:09:31 ET
Summary
- Petrobras investors were stunned again as the market sent PBR into a bear market.
- The dismissal of PBR's ex-CEO has intensified concerns about interference by the Lula administration.
- Investors will likely take time to assess PBR's new top leadership team.
- Despite that, the market isn't dumb, as PBR is still very cheap.
- I explain why dip-buyers have likely returned, suggesting PBR seems to be bottoming. Read on.
Petrobras: Fears Returned As Lula Intervenes
Petróleo Brasileiro S.A. - Petrobras ( PBR ) investors have endured a series of significant market volatility as Brazil's leading integrated oil company underwent top management changes. As a reminder, ex-CEO Jean Paul Prates and his CFO were dismissed after Petrobras's Q1 earnings release ....
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For further details see:
Petrobras: Don't Overstate The Lula Risk