10 Biggest Losers of This Week

8. Ambev SA (ABEV)

Brazil-based brewing company Ambev (ABEV) saw a 9.09-percent decline in its share price during the past five days and a 4-percent decline in the first two trading days of the week alone.

The company on Tuesday traded as low as $1.88, before closing the day a little higher to finish at $1.90 apiece.

Ambev, the company which owns Brazil’s top alcohol products, remains challenged by various macroeconomic factors including higher costs of energy, raw materials, packaging, logistics, and labor, which are putting pressure on its brewing operations across various countries.

The overall beer production in the US also fell by 5.6 percent to 193 million hectoliters, making it the only beer-producing country in the Americas to witness a downturn in production volume.

Thomas Raiser, Managing Director of BarthHaas, commented: “The brewing industry is still feeling the effects of the war in Ukraine; companies throughout the entire supply chain are laboring under sustained high costs. Consumers in many countries are groaning under the burden of high inflation. We therefore only expect beer output to remain stable for the current year, but are unable to identify a clear trend for the future.”