Shares of Brazilian fintech PagSeguro (NYSE: PAGS) fell 17.2% this week through Thursday trading, according to data from S&P Global Market Intelligence.

The rapid rise in interest rates over the past two years has caused not only U.S.-based fintech stocks to sell off but foreign ones as well. The pessimism is still high, as evidenced by PagSeguro's sell-off this week in spite of what looked like a solid earnings report. While revenue and profits rose, margin pressure and internal spending caused investors to see the glass as half-empty.

At first glance, it's difficult to see why PagSeguro's stock went down. Revenue surged 19.1% in the quarter, and earnings per share surged 31.5% to 1.68 Brazilian Reals, with both figures actually beating analyst estimates.

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Source Fool.com