Why StoneCo Stock Was Flying Higher on Wednesday
Shares of Brazilian fintech company StoneCo (NASDAQ: STNE) were flying higher on Wednesday after the company reported results for the first quarter of 2020. Shares were up 28% early, but were still trading 19% higher as of 11:20 a.m. EDT.
While StoneCo has been negatively impacted by the COVID-19 pandemic, the company showed that business is already well along the path toward recovery.
Source Fool.com