JBS saw an uptick in shares during its maiden trading day on the New York Stock Exchange (NYSE), ending a period of setbacks that had prevented the Brazilian meatpacking behemoth from trading in U.S. public markets. Trading under the ticker "JBS", shares opened at $13.65 on the NYSE and were recently spotted trading at $14.03, marking a 2% increase. JBS shares also trade on Brazil's B3 exchange.
JBS, the majority owner of U.S. poultry company Pilgrim's Pride, is recognized as the globe's largest meatpacker, boasting a revenue of $77.18 billion, along with net earnings of $1.96 billion in 2024, according to an April prospectus filed with the Securities and Exchange Commission.
Despite its successful debut, JBS' attempts to list in the U.S. faced pushback from both American meat producers and environmental advocates due to concerns related to corruption allegations, accusations of contributing to Amazon deforestation, and its expansion in the U.S market. These apprehensions were reported by The New York Times last year.
Nonetheless, CNBC reported that after the re-election of President Donald Trump in November last year, Pilgrim's Pride contributed $5 million to his inauguration committee. Following this donation, the SEC approved its request to list on the NYSE.