Brazil is in a state of flux. Its politics are unsettled. Inflation is soaring. Its currency is weakening. Still, the time is right to buy XP, Brazil’s answer to Charles Schwab .
XP stock (ticker: XP) has dropped 38% from its 52-week high of $51.17 in September, as Brazil’s currency has weakened, while inflation has spiked, forcing the Banco Central do Brasil to raise interest rates. There’s also an election pitting current President Jair Bolsonaro against former President Luiz Inácio Lula da Silva to make things even murkier.
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