Here's Why PagSeguro Digital Stock Rallied Today

Shares of Brazilian fintech company PagSeguro Digital (NYSE: PAGS) are rising today, in hopes the company will soon report an improving business situation like its peer StoneCo (NASDAQ: STNE). The stock spiked 17% higher early, but as of 12:45 p.m. EDT it was 8% up for the day.

StoneCo stock is also rising today, after reporting its business is already recovering from the impact of COVID-19. This gives PagSeguro shareholders hope. Even still, both stocks are down for 2020.

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Source Fool.com