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Why Shares of MercadoLibre, StoneCo, and PagSeguro Digital Rose Today

TheMotleyFool

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Why Shares of MercadoLibre, StoneCo, and PagSeguro Digital Rose Today: https://g.foolcdn.com/editorial/images/703410/generic-upward-5-getty.jpg

Shares of most Brazilian stocks rose after the results of Brazil's presidential election came in earlier today.

Shares of the Uruguayan online marketplace MercadoLibre (NASDAQ: MELI) rose roughly 6.6% today. Shares of the digital payments companies StoneCo (NASDAQ: STNE) and PagSeguro Digital (NYSE: PAGS) rose by 10.7% and nearly 10%, respectively.

In Brazil's presidential election, no single candidate managed to obtain 50% of the vote, which means the election will head for a runoff later this month.

Source Fool.com

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