On 11/29/18 Berkshire Hathaway disclosed that they took an 11.3% stake in $STNE a recent IPO that is in the credit card processing business in Brazil. You can read it about it HERE.
Yesterday StoneCo $STNE reported; Adjusted net income soared to 89.3 million Brazilian reais from 5.7 million a year ago. Revenue jumped 121.4% to 414.1 million Brazilian reais. As of Sept. 30, StoneCo had 234,400 thousand active clients, up 127% from a year ago. Payment volume surged 84% to 21.8 billion Brazilian reais. Link.
StoneCo sales and earnings data for the last 8-quarters has been impressive, chart via @MarketSmith
$STNE came public in a challenging market environment (10/25/2018), the market has been under severe pressure, and it has taken the stock with it. However, yesterday’s earnings announcement may spark a rally in the short term. I for one have an interest in the stock if can get above $22.30.
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