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STNE (Stone) reported reasonable growth in it's business even in a struggling Brazilian economy. However, it appears the share price drop was largely due to the write down of it's investment in Banco Inter.

The write down of their 4.99% stake wiped out the equivalent of about 85% of Q3 revenue, or $1.27bil. I suspect that because this is a one-off and StoneCo's growth is still good even in a country that's raising rates and not on the best economic footing, ARK sees this as an opportunity to buy a company that's not in trouble but that did make a mistake.

Maverick Bogdan took a look at the P/S of STNE in this post.

ARK has been on a Stone buying spree and now owns about 1.2% of the $5bil company. It's the 86th largest holding in the portfolio.