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StoneCo and Linx Consider Combining, Sending Both Stocks Higher

TheMotleyFool

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StoneCo and Linx Consider Combining, Sending Both Stocks Higher

Brazilian payments company StoneCo (NASDAQ: STNE) and Brazilian technology company Linx S.A. (NYSE: LINX) are considering combining operations. StoneCo's investor-relations website was mum on the topic, but Linx's website informed investors of the potential business combination.

Investors sent both stocks higher on the news. StoneCo stock finished the day 11% higher, while Linx stock went up 35%. Both have recovered sharply from 2020 lows, with StoneCo stock touching all-time highs.