PicPay (PICS) shares closed the March 20, 2025 trading session with a significant drop of 6.28%, reaching a value of US$ 11.50. The day before, the company had recorded an even more expressive drop of 23%, representing the largest depreciation since its IPO held in January of the same year.
In addition to the decline during the session, PicPay’s weekly performance showed an accumulated loss of 21.5% between March 16 and 20. Despite this negative movement in the shares, the fintech released a quarterly report on March 18, 2025, with its fourth quarter net profit showing a 136% increase year-over-year.
Other companies in the sector also posted negative results at the close of the market on March 20, such as Inter (INTR), which fell 3.70%, priced at US$ 7.80, accumulating a weekly decline of 2.74%. Similarly, Agibank (AGBK) declined 3.96%, closing at US$ 8.97, and totaled a weekly loss of 5.58%.
StoneCo (STNE) posted a daily depreciation of 3.54%, with a price of US$ 13.35, accumulating a 4.64% drop during the week. Meanwhile, XP Inc. (XP) closed the session down 3.81% at US$ 18.20, totaling a weekly loss of 2.52%. PagBank (PAGS), in turn, had a daily reduction of 2.39% and ended priced at US$ 9.39, with a weekly decline of 2.09%.
Among Brazilian fintechs listed on the US stock exchanges, Nu Holdings (NU) showed the smallest drop on March 20, falling 1.55% and closing at US$ 13.94. Its accumulated weekly loss was 1.48%, indicating greater resilience compared to other companies in the sector.
Macroeconomic and regulatory context related to Brazilian fintechs
On March 20, 2025, the escalation of conflicts between Israel and Iran caused increased risk aversion in global markets. On the same date, the price of Brent crude oil remained around US$ 109, a direct reflection of geopolitical tensions in the region.
The main US stock indexes recorded sharp drops: Dow Jones fell 0.96%, S&P 500 lost 1.51%, Nasdaq dropped 2.01%, and Nyse declined 1.48%. Additionally, expectations of interest rate increases in both the United States and Europe negatively influenced the global investment environment.
Meanwhile, Brazilian government agencies took important measures for the financial sector. On March 20, the Federal Revenue Service established rates ranging from 12% to 20% for financial institutions. This decision changes the tax landscape and may directly affect the operations of fintechs in the country.
On the other hand, Brazilian regulatory bodies initiated an information exchange to strengthen financial intelligence. This cooperation aims to bolster mechanisms to combat money laundering and strengthen the national financial system, impacting the activities of financial startups.
In the national financial market context, Agibank scheduled the release of its first balance sheet on the New York Stock Exchange (Nyse) for March 23, 2025. This event marks a significant step for Brazilian fintechs seeking greater access to international capital and tends to influence investors’ perception of the sector.
Besides analyzing internal conditions, Brazilian authorities are monitoring the international scenario, while news reports indicate that the United States government is considering measures against the Iranian island of Kharg, a strategic target in the Persian Gulf. These geopolitical movements continue to directly reflect on financial market behavior and the volatility observed in global investments.
