Fictor Alimentos (FICT3) plummets 40% on B3: Does the market not believe the company will be excluded from the holding's RJ?

Fictor Alimentos (FICT3) faced a day of strong decline in the stock market on Monday, after its controlling holding filed for judicial recovery (RJ) at the Court of Justice of São Paulo (TJSP). The subsidiary's shares dropped nearly 40% on B3, trading below R$ 1 for the first time. The negative reaction occurred despite the parent company, Fictor Holding, stating that the food branch should not be included in the judicial recovery process. In the request submitted to the court, the group argues that Fictor Alimentos has recurring revenue generation, a financial structure reinforced by a recent capital increase, and no relevant bank debt—factors that, according to the holding, would rule out the need for judicial protection for the subsidiary. Brazilian legislation allows companies within the same economic group to be treated differently in judicial recovery processes, provided they have their own CNPJs and operational autonomy. Nevertheless, the prevailing reading among investors ...