Natura &Co Shares Drop 30%, Losing R$ 5 Billion in Market Value; Announces 52.6 Million Share Buyback

Natura &Co (NTCO3) experienced a sharp decline of nearly 30% in its stock price, resulting in a loss of approximately R$ 5 billion in market value. This drop was attributed to a disappointing earnings report and a downgrade from J.P. Morgan, which influenced market sentiment. In response to the downturn, Natura &Co announced a share buyback program involving up to 52.6 million shares, equivalent to about 6.2% of the total shares outstanding. Analysts from Bradesco BBI suggested that the stock's decline may have been exaggerated, indicating potential for recovery.