StoneCo Ltd. (STNE) missed earnings estimates for the second quarter of 2024, leading to a downgrade to a Zacks Rank #4 (Sell). While the company exceeded revenue expectations, the unfavorable earnings outlook and recent stock performance suggest potential underperformance in the near future.
ARK ETFs, managed by Cathie Wood, have recently increased their holdings in Tesla Inc. while reducing investments in StoneCo Ltd. and Twilio Inc. This trade activity reflects ARK’s continued bullish stance on Tesla and a potential strategic shift away from the other companies.
