StoneCo Ltd. (STNE) shares declined 5.56% in after-hours on Monday, August 30, 2021, and closed the daily trading at $46.75. Earlier in the regular trading session of Monday, STNE’s stock lost 4.09%. STNE shares have fallen 4.57% over the last 12 months, and they have moved down 6.50% in the past week. Over the past three months, the stock has lost 24.01%, while over the past six months, it has slid down 43.60%.
Let’s have a brief look at its recent news and developments.
STNE recent financial results announcement
On August 30, 2021, StoneCo Ltd. (STNE) reported its financial results for its second quarter ended June 30, 2021.
Q2 2021 financial highlights
- STNE reported total revenue of R$613.4 million in Q2 2021 compared to R$667.4 million in Q2 2020.
- The cost of the revenue was R$302.4 million in Q2 2021 compared to R$198.7 million in Q2 2020.
- Administrative Expenses were R$121.8 million in Q2 2021 compared to R$89.9 million in Q2 2020.
- It earned a net income of R$526.0 million in Q2 2021 compared to R$123.6 million in Q2 2020.
- As of June 30, 2021, the company had cash and Cash Equivalents plus Short-term Investments totalled R$10,872.2 million.
STNE Teach-In Paper
On August 25, 2021, StoneCo Ltd. (STNE) released a teach-in to explain the dynamics of the new registration of receivables in Brazil and its implications to the payments industry and Stone’s business. The complete details are available on the company’s website.
STNE new board member
On July 15, 2021, StoneCo Ltd. (STNE) announced that according to written resolutions of its Board of Directors dated July 5, 2021, Mr. Diego Fresco Gutierrez was appointed to the Board of Directors.
Diego Fresco Gutierrez graduated in Accounting in 1994 at Universidad de la República Oriental del Uruguay. Diego is a Certified Public Accountant registered in the state of Virginia and an Accountant registered with the Conselho Regional de Contabilidade – SP in Brazil. He is currently a member of the Audit Committee of Votorantim Cimentos S.A. and Itau Corpbanca Chile. He was a member and financial specialist of the Audit Committee of Itaú Unibanco Holding.. Since 2013, he is a member of the Commission on Governance of Financial Institutions of the IBGC.
STNE and Linx merger in brazil
On June 16, 2021, StoneCo Ltd (STNE) announced that CADE, the Brazilian antitrust authority, unanimously approved the business combination between STNE Participações S.A., a controlled company of Stone that holds the software investments business of the Stone group in Brazil, and Linx S.A. with no restrictions.
Conclusion
STNE stock plummeted after the company announced its Q2 2021 financial results which did not attract investors and it can further face negativity in the coming trading session on Tuesday.
