Over the past few years, Brazilian-based fintech (NASDAQ: STNE) has experienced its fair share of ups and downs. After going public in 2018, the company's stock skyrocketed and reached $95 per share in 2021. However, the tides turned, and the company grappled with a pile of bad debt in the face of macroeconomic pressures in Brazil.
This year the stock is up 30% while it works to expand its payments business and improve its balance sheet. Here's why StoneCo could be an intriguing investment opportunity long term.
StoneCo provides software and financial services to small and medium-sized businesses across Brazil. It provides payment solutions, digital banking, and credit to those customers. StoneCo caught investors' eyes when it went public in 2018, largely because Warren Buffett's Berkshire Hathaway opened a position in the fintech. At the end of the first quarter, Berkshire has 10.7 million shares in the fintech worth about $102 million.
Source Fool.com