The Uruguayan fintech saw the price of its securities fall after the departure of former financial manager Diego Cabrera Canay.
The Uruguayan fintech dLocal had a drop in the price of its shares after the announcement of the departure of its CFO, Diego Cabrera Canay, despite the 25% increase in its net income during the third quarter of the year.
The resignation of the financial manager will materialize in the first quarter of next year to give rise to “a smooth transition,” according to the co-CEO of dLocal, Pedro Arnt, who said that Cabrera Canay leaves the unicorn “to seek new opportunities.”
Arnt appreciated that the CFO, whose replacement is not yet known, “has played an important role in our financial success during his period in dLocal”. At the same time, he maintained that “as an executive leaves, we are also strengthening our team with new hires in senior positions,” after which he announced the incorporation of a director of accounting and a senior vice president of Government Relations and Strategic Alliances.
Along these lines, it is worth noting that the firm achieved revenues of 40.4 million dollars between July and September, which is equivalent to 0.13 dollars per share. In its report, the firm indicated in turn that the total payment volume (TPV) also achieved a record figure of 4.6 billion dollars in the third quarter, marking a year-on-year increase of 69%.
The value of dLocal shares
In this scenario, the actions of dLocal fell in the market Nasdaq of the NYSE. Thus, they went from $18.80 on Tuesday to $17.38 on Wednesday, which represents a decrease of 7.55% in a single day.
However, after this Thursday’s Thanksgiving holiday in USA, They began to rise today, although without recovering previous levels. In this way, the titles reached $17.43, an increase of 0.29%. It remains to be seen if the Uruguayan unicorn will once again show the resilience that he already knew how to exhibit after the scandals over a report by Muddy Waters and accusations from the government of Argentina.
Added to these is the recent class action lawsuit from the law firm of NY“Pomerantz LLP, which ensures that people and entities who purchased or acquired shares of dLocal During May 2, 2022 and May 25, 2023, they seek to “recover damages caused by violations of federal laws.”
Likewise, the presentation ensures that the fintech made “materially false and misleading statements regarding business, operations and compliance policies.”
Source: Ambito
