This Warren Buffett Stock Is Down 75%: Time to Buy?
Though StoneCo (NASDAQ: STNE) was likely bought by one of Warren Buffett's younger lieutenants at the time of its 2018 initial public offering (IPO), Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) owns about $183 million worth of the Brazilian fintech today.
Of course, that stake was worth about $740 million earlier this year. Since early 2021, StoneCo's stock has crumbled, and is currently down about 75% from those all-time highs.
Buffett's team obviously thought highly of StoneCo and its management team when they bought in, so is now the time to buy this Buffett stock in hope of a big rebound?
Source Fool.com
