He Uruguayan unicorn dLocal failed to follow the favorable trend of the stock market and its shares fell on this positive Friday, driven by the advance of the Federal Reserve (Fed) Chairman Jerome Powell, about an upcoming interest rate cut.
During the day, the world stock exchanges operated upwards and touched historical highs, with the S&P 500 growing by 1.15%, Dow Jones growing by 1.14% and the Nasdaq Composite, where the fintech is listed, 1.47%.
Powell’s speech had a lot to do with that movement. Jackson Hole, where he assured that “the time has come for an adjustment of monetary policy”, opening the door to the expected first cut of the year in US rates.
In this context, the Uruguayan company leader in cross-border payments saw a 2.29% drop in the price of its actions, which were worth $8.52.
Despite the drop, dLocal shares have accumulated three weekly increases
In any case, the shares of the fintech company named among the best in the world seem to have already overcome their worst moment, which took place on Monday the 5th of this month, when they hit the historic low of 6.91 dollars. Since then, they have accumulated more rises than falls and have accumulated three weekly increases.
Thus, after the report of its quarterly results, published ten days ago, which included a record of 6 billion dollars in its Total Payment Volume (POS), the actions of dLocal They rose from $7.76 to their peak of $8.72 on Thursday, a jump of 12.37%.
Thus, although the shares are far from their maximum values of January 8, which reached $18.23, they seem to be on a path to recovery, with investors analyzing the data from the latest report, where the fintech also had net income of $46 million, an increase of 161% over the first quarter, as well as an operating profit of $30 million and a EBITDA of 43 million.
Source: Ambito
