Why StoneCo Stock Was Flying Higher on Wednesday
Shares of Brazilian fintech company StoneCo (NASDAQ: STNE) were flying higher on Wednesday after the company reported results for the first quarter of 2020. While StoneCo has been negatively impacted by the COVID-19 pandemic, the company showed that business is already well along the path toward recovery. StoneCo stock has underperformed the market in 2020 since it does business in Brazil, one of the countries that's been most affected by the coronavirus.
