Earlier this week, (NASDAQ: STNE) announced a new 300 million Brazilian real (roughly $58.2 million) repurchase authorization. Shares closed up around 2% on Wednesday in response -- slightly larger than the repurchase plan's size relative to StoneCo's roughly $3.2 billion market cap as of this writing. 

While it might be tempting to argue this buyback is insignificant or even ill advised, I think it's a great sign for patient, long-term investors willing to watch StoneCo's growth story play out.

But why?

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Source Fool.com