Crippa Prado Carla Smith de Vasconcellos sold $188K of ABEV

Ambev S.A. (ABEV) shares fell 15.5% after Luiz Inácio Lula da Silva won Brazil's presidential election, surprising investors who favored Bolsonaro. The win may increase spending and regulation, hurting Brazil's currency and bonds, which could impact Ambev's earnings in USD terms. The company reports Q3 earnings on Oct. 29.

Luiz Inácio Lula da Silva won Brazil's presidential runoff with 51.8% of the vote, defeating Flávio Bolsonaro. Prediction markets favored Bolsonaro, but traditional polls showed a tight race. Post-election, Brazil-linked stocks and ETFs, including EWZ, Itau Unibanco, and Petrobras, declined significantly.

Petrobras (PBR) fell 15% after Lula's re-election in Brazil, as investors had bet on Bolsonaro's win. Government-controlled Petrobras has seen capital spending double and dividends drop since 2022. MercadoLibre (MELI) and Ambev (ABEV) also declined, with LATAM Airlines (LTM) down 9%.

Brazil's election results triggered a sell-off in Brazilian assets, with the iShares MSCI Brazil ETF (EWZ) falling over 20% and U.S.-listed Brazilian stocks like Petrobras, Itaú Unibanco, and Ambev also declining. Elon Musk's comments on neocloud stocks sent shares of CoreWeave, Nebius, and IREN lower in premarket trading. Apple's iPhone Duo launch saw shorter lines and supply issues, with investors awaiting initial reactions.

Ambev SA ADR stock fell 17.9% to $2.71 in pre-open trading after Brazil's President Lula won the runoff election, surprising markets that had priced in a Bolsonaro victory. The Brazilian real depreciated, directly impacting Ambev's revenue. The decline reflects broader sell-offs in Brazilian assets and ADRs, with no global risk-off mood. Ambev's Q3 2026 earnings release is scheduled for October 29.

Brazil's President Lula won a fourth term, surprising markets that bet on a right-wing victory. Analysts warn of a potential 7% real plunge and severe stock losses. Key Brazilian assets, including ETFs and ADRs, dropped significantly in overnight trading. Lula faces a conservative Congress and fiscal challenges, with public debt at 82.9% of GDP.