Why StoneCo Stock Dropped Today

Shares of StoneCo (STNE -6.87%) fell as much as 13.5% early Tuesday, then partly recovered to close down 6.9% after the Brazilian fintech announced mixed quarterly results relative to expectations. It also announced the impending resignation of one of the company founders.On StoneCo's technically mixed quarterFourth-quarter 2023 revenue grew 20.1% year over year to 3.25 billion Brazilian reals ($645.4 million), translating to adjusted earnings of 1.76 reals per share ($0.35). Analysts on average were predic ...