Why XP Stock Popped 19% This Morning
Shares of recent IPO and Brazilian fintech company XP (NASDAQ: XP) got slammed last week, falling 14% Friday in response to a short report from an investor known as the Winkler Group that alleged financial improprieties at the company that were not disclosed prior to its IPO.
XP stock fell another 14% yesterday, a victim of the broad market sell-off Monday.
Today XP is getting some of those losses back as investors respond to a letter the company filed yesterday refuting Winkler's allegations -- its stock had risen 5.7% as of 12:15 p.m. EDT.
Source Fool.com
