Why StoneCo Shares Are Trading Higher Friday

StoneCo Ltd. STNE shares are trading higher after the company said it received the Financeira License from the Brazilian Central Bank.

The license is organized as a Sociedade de Crédito, Financiamento e Investimento (SCFI), the company said in a press release.

This license will enable StoneCo, through its subsidiaries, to develop and offer a range of new products, such as time deposits, which shall enhance and diversify the company's funding sources.

Last month, the company said it had obtained a commitment of $467.5 million in the form of a revolving securitization facility from the U.S. International Development Finance Corporation.

With a business model focused on growth and efficiency gains, the company expects for more than doubling profitability over four years, hoping to exceed an adjusted net income of R$4.3 billion ($888.80 million).

In 2027, Stone plans to exceed R$600 billion in TPV and a take rate above 2.70% in MSMB, exceed R$14 billion in client deposits and achieve a credit portfolio above R$5.5 billion.

STNE Price Action: StoneCo shares are trading higher by 3.01% to $17.12 on the last check Friday. 

Read Next: Tesla Faces Senate Heat - 33 Senators Reportedly Call On Elon Musk, Other Automakers On Demands For Neutrality In Union Organizing

Photo: Shutterstock