Concerns surrounding the growth of big tech do not apply to George Soros. The Federal Reserve's decision to aggressively raise interest rates to fight inflation, which is at a 40-year high, threatens to push the economy into a recession, many analysts say. This inflation, which is particularly impacting consumers, is a huge problem for the technology sector, because tech products and services are the first to suffer from spending cuts. Read More...
Motley Fool
Why PagSeguro Plunged Today
Shares of Brazilian fintech PagSeguro Digital (NYSE: PAGS) were plummeting on Wednesday, declining about 18% as of 1:28 p.m. ET. The company, which is a payments processor for small and medium-sized merchants in Brazil, as well as a digital bank for Brazilian merchants and consumers alike, reported third-quarter earnings today. In the third quarter, PagSeguro’s revenue rose 45% to just over 4 billion reals, which seems like a strong result, given all of the economic headwinds in Brazil and across the world.
Add Comment