Stock Investing
Petrobras (PBR) Stock on a Roll After It Decides to Sell Off Its Fully-Owned Ceara Cluster
The Brazilian based energy firm has decided to sell 100% of its stake in the Ceara Cluster in order to reduce cost and enhance capital allocation. Shares of Petrobras (PBR) are continuously rising after the company increased its production guidance for 2020, reported in Q3 release earlier this month. Since the beginning of this week, PBR shares have lifted up with stronger momentum. Shares of PBR are driven by high volume (51 million on Tuesday), but what’s causing the investors to come in big numbers? Recently, the company announced that it will be selling all its stakes in the four
