Why Shares of XP Inc. Are Down This Week
Shares of the Brazilian investment management firm XP Inc. (NASDAQ: XP) had fallen more than 15% on the week at the close of trading Thursday after the company reported key performance indicators (KPIs) for the third quarter earlier in the week.
On Monday, XP reported several KPIs for the third quarter. While not all bad, the company reported that assets under custody fell 3% from the sequential quarter, and that total net inflows were 37 billion Brazilian real ($6.7 billion) in the third quarter versus 75 billion real in the second quarter.
The good news is that active clients on the XP platform grew 5% in the third quarter, and purchase volume on XP's credit card grew 55% from the second quarter as well.
Source Fool.com
