Looks like the brazil dropped.
Basically bsbr pulls all the strings since it has lot more trading volume than sanb11.
Now bsbr should be at 6.1 but it is trading at 5.35.
bsbr fair value is 6.10.
Didnt the normal shares get the Dividend?
I mean the 10% differential is crazy.
Market is teaching these idiots a lesson.
I probably think they have +2% SSS and what is so funny is that we would not have this sell off if they have released the number.
Basically shorts have been right here.
Company will just issue more stock possibly at $5, diluting another 50%.
These Greeks (moukas\Christos) are as shady as they come.
This is why I stopped speculating on international small caps because it is extremely difficult to evaluate and fraud is rampant.
Unless a company is well known in a foreign market I don't go near it, it is better to stick to good old USA (at-least you know CEO is going to jail if there is fraud).
Most of them just bent down took it in the rear without complaining.
By the time they filed BK job was done.
If you did a search on the old board you will so many posts by pumpers like Beta\Sirius treat Jeff as the next coming of Moses.
HE gave so many erroneous\bogus guidance it is no longer funny, $40 million free cash flow any one right before this POS came crashing down.
Ultimately blame goes to the CEO because I think he cleverly used this idiot CFO as a front to buy time.
Is there a learning moment here?
Learn to respect the market.
It is all great to have conviction but when the prices move against don't be arrogant and reevaluate your position to see whether you could be wrong.
Bashers are your friends, if you get shaken out of a good position it is bad but you will never get killed.
As I have been saying in the last few days Fed will keep stimulus going all the way until Unemployment is at 5% and inflation hits 2.5%.
My decision to invest in GFA was based on the firm belief.
So BRL will start rallying until we hit 0.5dollar to 1 brl. Bringing down inflation in Brazil.
This will be a great year for GFA if people are willing to hold.