Magalu has a valuation of almost R$ 9 billion after the Americanas case

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Magazine Luiza saw its market price rise by R$ 8.8 billion, from the day the Americas material fact was released, pointing to a R$ 20 billion shortfall in its accounts until this Wednesday (25).

According to a TradeMap survey commissioned by CNN , since January 11th, the date on which the company’s president, Sergio Rial, resigned from his post, Magalu has appreciated by 43.5%. It went from R$ 20.2 billion to R$ 29.04 billion in market value.

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Americanas, on January 11, was worth R$10.8 billion. On Wednesday (25) it fell to R$ 848 million, that is, a devaluation of 92.1%. The company lost R$9.9 billion of its value.

Via, owner of Casas Bahia, Extra.com.br, and Pontofrio.com — a company in the same sector — also recorded a drop in market value of 5.38% in the period. On January 11, it was worth BRL 4.1 billion and went to BRL 3.8 billion on the 25th.

Retailers at B3

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This Wednesday, the high of Magalu reached 6.38% (R$ 4.67) at the maximum of the day. However, the assets reduced the gains and closed the session down 0.91%, at R$ 4.35.

On the same day, Americanas filed a request for recognition of the judicial recovery process in the United States, known as “Chapter 15”, according to a court document. The shares of the company in judicial recovery showed a slight increase, going from R$ 0.84 at the opening and closing at R$ 0.94.

Via held steady but also posted losses throughout the day. The share price opened at R$2.50, but closed at R$2.46.

Source: CNN Brasil

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