50% Profit

Bye CMIN3.

I decided to sell my CMIN3 shares and make a 50% profit on the position acquired over the last few months of 2023. I didn't want to sell them at 8 reais just 10 days ago and the day before yesterday I got rid of them at 6.84.

What led me to make this decision were some reasons that I will now indicate.

The share recently surpassed the value of the IPO carried out in February 2021 and the historic top of that year at 7.48 and reaching 8 has retreated in recent days. Indication of profit taking by the market.

The latest world events especially in China, destination of more than 39% of CMIN3 exports, which has been reducing iron ore consumption, even shutting down some steel plants.

And the war zone that became the Red Sea caused a huge increase in freight costs.

Fall in iron ore in Dalian since the beginning of the year.

Challenging year in the second half with elections here in Brazil and the USA.

For these reasons I chose to exchange my position for shares that are more resilient to crises and with increased revenues and profits and I will show the operations carried out in my next post.

"Disclaimer: This post about my stock picking setup is for informational and educational purposes only. It does not constitute financial advice. All investment decisions should be made after research and consultation with a qualified financial professional. Past performance is not indicative of future results. I am not responsible for any decisions made based on the information provided in this post."

ALL screenshots by @pataty69