Company Performance: Americar's financial results, like revenue, profit margins, and debt levels, directly influence investor confidence and stock price.

Overall Market Conditions: Broad market trends in Brazil and globally impact investor sentiment towards all stocks, including AMER3.SA.

Economic Factors: Brazil's economic health, including inflation, interest rates, and GDP growth, affects consumer spending and Americar's profitability.

Industry Trends: Changes in the retail sector, e-commerce growth, and competition from other retailers impact Americar's market share and stock value.

Investor Sentiment: Positive or negative news about Americar, its competitors, or the Brazilian economy can shift investor demand, driving price fluctuations.

Regulatory Changes: New laws or regulations affecting retail businesses, taxation, or labor practices can impact Americar's operations and profitability.

Global Events: International events like trade wars, political instability, or economic crises can influence investor risk appetite and impact AMER3.SA.

Exchange Rates: Fluctuations in the Brazilian Real against other currencies affect Americar's import costs, international sales, and overall earnings.

Dividends: Changes or expectations related to dividend payouts will definitely play a significant role in stock value.