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Magazine Luiza shares surge 61% to lead Ibovespa gains

Original: mglu3

Magazine Luiza (MGLU3) shares jumped 61% during the September rally, making the retailer the biggest gainer in Brazil's Ibovespa index. Investors are reacting to renewed appetite for the company's stock, which had been among the market's most beaten-down names, as buying returned to Brazilian equities this month.

Why now: The retailer's sharp 61% rally makes it the top performer in the Ibovespa, drawing attention from investors tracking the September rebound in Brazilian stocks.

Magazine LuizaMGLU3IbovespaB3Investidor10

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Evidence

• Rali de setembro: Magalu (MGLU3) dispara 61% e lidera altas do Ibovespa · Investidor10

API: https://socialmediatrends-api.osmike.com/v1/trends/1118070