This Bargain Buffett Stock Is Quickly Getting Back on Track After Losing Investor Confidence
Financial technology (fintech) company StoneCo (NASDAQ: STNE) operates in Brazil and had its debut on the U.S. stock market in 2018. Typically, a company like this wouldn't make headlines, being unknown to the majority of U.S. investors. But StoneCo got immediate attention because of an investment from Warren Buffett's Berkshire Hathaway.
According to its most-recent filing, Berkshire Hathaway owns almost 10.7 million shares of StoneCo, or about 3.4% of total shares outstanding, as of the first quarter of 2022. The stake is only worth about $90 million at the time of this writing -- a drop in the bucket for Berkshire Hathaway considering its market capitalization is around $600 billion.
However, Berkshire Hathaway invested way more than $90 million and is currently down big -- a rare occurrence in Buffett's portfolio. In short, StoneCo shattered investor confidence in 2021. But under the surface, this company could be poised for a huge comeback. Here's why.
Source Fool.com
