Published On: November 19th, 2021Categories: Trade Ideas
On November 17th, the leading provider of financial technology and software solutions StoneCo reported disappointing 3Q earnings. This pushed lower both stock and bond prices, already impacted by a mix of domestic macro noise, weak global technicals for emerging markets (US rates, tapering, China), and a restating of the results. Lower StoneCo businesses continue to expand and are still on a solid footing but it is clear that a rocky Brazilian economy (pandemic, high unemployment, inflation) has placed the digital payments platform on treacherous seas.
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