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Here's Why StoneCo Was Rising on Wednesday

TheMotleyFool

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Here's Why StoneCo Was Rising on Wednesday

Brazilian payment company StoneCo (NASDAQ: STNE) is soaring on Wednesday, with shares up by more than 11% at 3 p.m. EDT. The fintech has been an especially strong performer in the recent market rebound, rising 43% in the past month alone, mostly fueled by a stellar earnings report.

There doesn't seem to be any company-specific news behind today's move. Rather, the gradual reopening of Brazil's economy is starting far sooner than many had expected.

Image source: Getty Images.

Source Fool.com

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