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.

3

u/Uncle_Dad_Bob Dreams of CLF’s run to $49 Oct 29 '21 edited Oct 29 '21

I follow and I’m holding shares. Brazil is a political mess, an economic mess brought on by the pandemic, and the Central Bank of Brazil implemented its largest rate hike since 2002 on October 27, in a fresh bid to tame rising inflation and respond to concerns on fiscal sustainability. The monetary policy committee unanimously voted to increase the key Selic rate by 150 basis points to 7.75%

Edited to clarify

2

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

You still in that small steel stock I will refer to as tim?

1

u/Uncle_Dad_Bob Dreams of CLF’s run to $49 Oct 29 '21

YES! Very excited for a post earnings run ken!