Why Petrobras Stock Keeps Going Down
PBRPetrobras(PBR) The Motley Fool·2024-05-15 23:42

Just because things are bad at Petrobras doesn't mean they can't get even worse.Pity Petrobras (PBR -7.01%) (PBR.A -5.96%) investors -- they can't seem to catch a break. Shares of the Brazilian oil giant -- officially known as Petroleo Brasileiro -- have fallen steadily in the four days leading up to and after the company's poor first-quarter 2024 earnings report. This now includes a 7.2% decline through 10:45 a.m. ET today.You can blame this latest decline on the President of Brazil himself.Petrobras' Q1 e ...