Braskem is trading at BRL 3.19, down 23.32%, amid a broad Brazilian asset selloff after Luiz Inácio Lula da Silva won reelection.
- Reuters reported investors expected recent bets on a different outcome to unwind.
- UBS BB cut its recommendation from neutral to sell and lowered its price target, adding company-specific pressure.
- Available evidence points primarily to Brazil-wide political repricing; no confirmed new company announcement explains the full drop.