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Why StoneCo Was Soaring Today

TheMotleyFool

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Shares of Brazilian fintech leader StoneCo (NASDAQ: STNE) were rising sharply today, up over 15% as of 11:46 a.m. ET.

StoneCo had an absolutely brutal 2021, as high inflation plagued Brazil -- only without the economic growth we've enjoyed here in the United States. Economic forecasters expect only 0.31% economic growth this year despite high inflation -- a scenario known as stagflation.

As a result, StoneCo was down a nauseating 80% over the past 12 months. Yet as we turn the page on 2021, it appears investors are giving StoneCo a fresh look, too, perhaps sensing a bargain.

Source Fool.com

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