Casas Bahia, Pão de Açúcar, Raízen: stocks that turned to dust in B3

The life of a Brazilian who invests is not easy. In addition to the recent crisis with the liquidation of Banco Master, which directly affected the China Development Bank (CDB) market, blue chip stocks have literally turned into dust in recent years.

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Just to give you an idea of ​​the scale of the losses, anyone who invested R$100 in Grupo Pão de Açúcar (GPA), when the multinational company opened the market in Brazil, in 2015, today only has R$6. 94% decrease. This is without taking into account inflation during the period.

If we look at inflation, the situation becomes even more shocking. The corrected value of the same R$100, in 2015, is R$181.43. This brings the real loss to R$175.

The issue of the Global Program of Action is not the only one. Shares of Casas Bahia have fallen 96% since the retailer entered the stock market. In 2012, when it debuted, the cost of shares was R$109. In 2020, its value was R$443. Today, the stock was sold for R$3.36.

Considering inflation over this period, the stock should cost R$273.29 today. This brings the lost value to R$ 269.89.

Raízen, which produces ethanol and sugar and distributes fuel, products and services through the Shell brand, in turn fell by 63% in 2025. Since entering the stock market in 2021, the decline has reached 88%.

Raízen’s stock price started at R$7.10 and is currently at R$0.85. Considering inflation, the corrected value for this period is R$8.98. Actual loss of R$8.13.

Mining company Braskem is down 45% since its IPO in 2006. The stock was valued at R$15.18. It reached R$67.20 in 2021, and is trading today at R$7.96. Adjusted for inflation during the period, the stock would cost R$53.68, a real loss of R$47.57.

Cosan, which controls companies from various sectors, including the aforementioned Raízen, had its shares already trading at R$26 in 2021. Today, the same share costs R$6.28. However, since its IPO in 2005, the stock price has risen 322%. It was sold for R$1.54 and today it sells for R$6.50.

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