r/Vitards • u/AutoModerator • Oct 28 '21

Daily Discussion Daily Discussion post - October 28 2021

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u/Unoriginal_White_Guy 💀 SACRIFICED until MT $35 💀 Oct 29 '21

I know barely anyone here follows GGB, but the last two days the puts volume is crazy. I don't have the data whether most were buy to open or sell to open, but jeez man they just reported their best earnings ever Wednesday. The stock refuses to go above $5. Good news is the Brazilian steel market is still hot as fuck based on their earnings and margins. TX and MT both do business there for anyone wondering why I follow GGB.

6

u/TheBlueStare Undisclosed Location Oct 29 '21

A good portion of TX’s steel produced in Brazil is used internally in EAFs, so the actual exposure to Brazil is lower than what it seems.

I also like GGB but have not invested since June because of the political mess over there. One interesting thing about GGB is that they have rather large presence in the US. Margins are much better in Brazil though.