Warren Buffett and his team have made some small moves into Latin American fintech companies in recent years. It's an interesting trend, considering that the Oracle of Omaha is more known for value-oriented picks than high-growth tech stocks.
Berkshire Hathaway invested in 's (NASDAQ: STNE) initial public offering in 2018 and owns 3.4% of shares. The Latin American fintech has gone through some struggles since then and has fallen more than 80% from its highs in 2021. Let's see how it's doing today and whether to follow Buffett into StoneCo stock.
StoneCo offers business solutions for companies across Brazil, with a focus on digital and small businesses. It started with a payments business targeting small and medium-sized businesses and now offers payments, banking, software, and credit packages for businesses of all sizes. It's comparable in many ways to Block's Square seller's business or PayPal's merchant services business.
Source Fool.com