Canada markets open in 5 hours 37 minutes
  • S&P/TSX

    20,572.11
    -142.37 (-0.69%)
     
  • S&P 500

    4,017.77
    -52.79 (-1.30%)
     
  • DOW

    33,717.09
    -260.99 (-0.77%)
     
  • CAD/USD

    0.7434
    -0.0037 (-0.49%)
     
  • CRUDE OIL

    76.94
    -0.96 (-1.23%)
     
  • BTC-CAD

    30,787.98
    -1,127.59 (-3.53%)
     
  • CMC Crypto 200

    519.21
    -18.66 (-3.47%)
     
  • GOLD FUTURES

    1,920.60
    -18.60 (-0.96%)
     
  • RUSSELL 2000

    1,885.72
    -25.74 (-1.35%)
     
  • 10-Yr Bond

    3.5510
    0.0000 (0.00%)
     
  • NASDAQ futures

    11,925.50
    -42.50 (-0.36%)
     
  • VOLATILITY

    20.26
    +1.75 (+9.45%)
     
  • FTSE

    7,748.83
    -36.04 (-0.46%)
     
  • NIKKEI 225

    27,327.11
    -106.29 (-0.39%)
     
  • CAD/EUR

    0.6878
    -0.0004 (-0.06%)
     

Why PagSeguro Plunged Today

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.