Why PagSeguro Digital Stock Soared Today
PagSeguro investors are betting on a winner for the Brazilian presidential election.
Overview
Pagbank (NYSE:PAGS), the Brazilian fintech stock and digital bank, flew higher Monday morning, soaring 21.7% through 11:50 a.m. ET.
You can thank the voters of Brazil for that.
Details
Brazil wrapped up its first round of voting for a new President Sunday night. With 98% of votes counted, conservative candidate Flávio Bolsonaro -- son of the former President Jair Bolsonaro and a Brazilian senator in his own right -- won 47.3% of the vote to incumbent President Luiz Inácio Lula da Silva's 44.8%.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.