(Bloomberg) -- Shares of Gafisa SA, Brazil's second-
biggest homebuilder, gained 34 percent last year after an initial
public offering in February. This year, the stock stalled.
Gafisa has fallen 1.5 percent in 2007, as 11 more developers
started trading shares in Sao Paulo, diluting investor demand for
real estate stocks. ``There are a lot of companies that have to
prove themselves,'' Gafisa Chief Executive Wilson Amaral said in
an interview in New York, where he was trying to convince
investors that his company is still a buy.
Read more at Bloomberg Stocks News
biggest homebuilder, gained 34 percent last year after an initial
public offering in February. This year, the stock stalled.
Gafisa has fallen 1.5 percent in 2007, as 11 more developers
started trading shares in Sao Paulo, diluting investor demand for
real estate stocks. ``There are a lot of companies that have to
prove themselves,'' Gafisa Chief Executive Wilson Amaral said in
an interview in New York, where he was trying to convince
investors that his company is still a buy.
Read more at Bloomberg Stocks News
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