December 4, 2022

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Banco Inter debuts on the US stock exchange with shares falling

Banco Inter debuts on the US stock exchange with shares falling

The US stock exchange’s response to Banco Inter shares was not as expected. Find out how your first Fintech day at NASDAQ went!

Estimated reading time: 3 Minutes

After a long journey of emigration, Banco Inter shares went to Nasdaq, American Stock Exchange, appearing on Thursday (23). But the first day on the stock exchange wasn’t the best, and financial technology It closed down 12.56% at $3.48.

This decline is also accompanied by Bank Stock Receipts (BDRs) in B3. Shares floated as high as 1.92%, at R$21.20 on 20. But that moment was short-lived and shares actually fell 13.8%, closing at R$17.93 on Thursday (23).

Reasons for the decline in Banco Inter . shares

According to Vittorio Galindo, investment analyst and leader of fundamental analysis at Quantzed, the significant decline in Inter On the Nasdaq due to rising interest rates in the United States, which particularly affects companies in the technology sector.

“This rise in interest rates is discouraging investors from paying very high valuations. Money becomes scarcer. It’s hard to find investors who are willing to pay for dividends or future expectations up front,” the analyst explains, in an interview with MoneyTimes.

Thus, the current macroeconomic scenario is unfavorable, and leads investors to interest-bearing bonds, not to stock exchanges. Not only the Nasdaq, but B3 was also affected by the rise in interest rates, Renewal ranked 23rd lowest since November 4, 2020.

According to a Goldman Sachs survey, investors are more pessimistic about Economie From the United States predicted greater risks of recession.

This does not mean that everything is over for Banco Inter, but it shows that the moment is difficult. The fall debut also reinforces that fintech still has a long way to go with the new change.

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Photo: Disclosure / Banco Inter