According to legal beagles attached to the main CGT union, what it amounts to is a “tax on extraordinary profits”, as it rankles the unionist rank and file that banks, steelmakers and telephone companies (amongst others) are making what they consider exorbitant profits.
The politics and ideology of this move are one thing, but leaving that debate aside the practical is what interests us here. And what this means is that there are definite shorting opportunities on offer amongst the Argentina ADRs and otherwise Argentina exposed companies. Here are four candidates with their price charts. There are other Argentine exposed stocks traded in the USA, of course, but these below seem likely choices as they fit the “high profit” profile and offer reasonable-to-good trading volume and liquidity. The rest is up to you, so DYODD, dude.
Banco Macro (BMA)