Latam’s shares fall more than 50%

Latam’s shares traded in New York started down sharply on Tuesday. The shares registered a 39.92% devaluation before the opening of the business, at $ 1.55. On the Santiago Stock Exchange, the paper started on Tuesday with a 51% drop, at 950 Chilean pesos, the lowest value of the day, the paper lost 31% on the Chilean stock exchange.

Source: CNN Brasil

StoneCo has a 13% drop in 1st quarter profit

Payment media company StoneCo said on Tuesday that it had an adjusted profit of R$ 162.3 million ($ 29 million) in the first quarter, down 12.9% from the same period last year, reflecting the economic effects of Covid-19. But the Nasdaq-listed Brazilian company said its active customer base rose 73.9% in 12 months through March, and that total revenue advanced 33.8%, to R$ 716.8 million ($ 130 million).

Source: UOL Economia