Why StoneCo Rallied This Week
Shares of Brazilian fintech company StoneCo (NASDAQ: STNE) rose this week, appreciating 18.8% through Thursday trading, according to data provided by S&P Global Market Intelligence. In addition, StoneCo is tightly connected with Brazil's overall economy, and stimulative spending intentions reported from Brazil's new liberal government this week could be helping lift shares. Brazil's economy is heavily weighted toward commodities such as oil and iron ore, among others.
