American Depositary Receipts (ADRs) representing shares of Petroleo Brasileiro SA (NYSE: PBR), commonly known as Petrobras, experienced a sharp sell-off during the trading session on Wednesday, April 10th. The Brazilian state-owned oil giant saw its stock price fall significantly on the New York Stock Exchange. As of 12:40 PM UTC-4, Petrobras ADRs (PBR) were trading at $11.33.
This price represents a substantial drop of $0.89 per share from the previous day’s close, translating to a steep decline of 7.28% for the session so far. The stock is trading well below its prior closing value of $12.22, highlighting the intense selling pressure impacting the shares today.
The intraday chart for PBR clearly shows a consistent downward trend since the market opened. The price erosion continued throughout the morning and into the early afternoon on the East Coast, hitting the $11.33 level around midday.
This significant slump in Petrobras ADRs is drawing considerable attention from investors and market analysts. The performance of PBR stock is being closely monitored as trading progresses, reflecting the current market sentiment towards the major energy producer’s US-listed shares.