Americanas: Did too much M&A activity affect the governance?

Synopsis: One of the oldest retail chains in Brazil, Americanas S.A., lost nearly 80% of its market value in one single day on 12th Jan 2023 as the company revealed almost US $4 billion of accounting inconsistencies in its balance sheet.

While the major newspapers of the world carried headlines of Adani vs Hindenburg, the Americanas debacle was essentially pushed to the back pages.


Using EMAlpha’s multilingual AI, we compared the governance scores of Americanas based on the local Portuguese news flow as well as on the English news flow to see if the data showed any red flags.

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When Covid-19 hit the world in early 2020, a pall of gloom hung over the global economy and uncertainty ruled the day. The future was pretty much unchartered and countries and companies around the globe started swinging in the dark. The current chip shortage is the result of the unexpected ways in which the global industries’ demand has played out for the chips.

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