DLO - Why Shares of DLocal Are Rebounding Today
2023-04-06 12:02:25 ET
Shares of the Uruguayan payments company DLocal (NASDAQ: DLO) traded nearly 11% higher as of 11:33 a.m. ET. today. The company sold off pretty significantly yesterday after reporting earnings results for the fourth quarter, but investors seem to feel better about those results today.
Fourth-quarter earnings and revenue both missed consensus estimates. The company is also reportedly facing headwinds because it still has deposits with the crypto exchange FTX, which declared bankruptcy after widespread fraud allegations.
Furthermore, DLocal said it spent about $2 million on an independent counsel, expert services, and a forensic accounting advisory for an internal review after allegations from a short-seller report in December.
For further details see:
Why Shares of DLocal Are Rebounding Today