StoneCo Stock Is Soaring Today: Is It Time to Buy?

Buoyed by bullish momentum for the broader market Wednesday, StoneCo (NASDAQ: STNE) stock is making substantial gains in today's trading. The Brazilian fintech company's share price was up roughly 13.6% as of 3:20 p.m. ET today, while the Nasdaq Composite index was up roughly 2.8%.

Comments from Russian and Ukrainian officials today suggesting progress on negotiating an end to their conflict are spurring bullish momentum, and the Federal Reserve's decision to raise interest rates by a quarter of a point (rather than the half-point raise some investors had feared) also prompted buying action for stocks. While market momentum can be expected to continue playing a significant role in StoneCo's near-term stock performance, investors thinking about buying the stock should focus on other factors. 

Image source: Getty Images.

Continue reading

Source Fool.com