Why Buffett-Backed StoneCo Stock Rallied Tuesday Morning

Shares of StoneCo (NASDAQ: STNE), gained ground on Tuesday morning, jumping as much as 7.2%. As of 3:47 p.m. ET, the stock was still up 6.8%.

The catalyst that sent the Brazilian fintech higher was positive commentary from a Wall Street analyst.

Susquehanna analyst James Friedman dug deeper into StoneCo's recent earnings report and came away with a positive outlook. He was particularly impressed by the result of the company's robust total payment volume (TPV), which was much better than expectations. 

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Source Fool.com