XP Sinks 52%, StoneCo Down 39% on Lula’s Upset Win as Bolsonaro Calls Result “Impossible to Recognize”
XP Inc. (XP) fell 52% after Lula's presidential win in Brazil. Other Brazilian banks and investment firms also saw declines: Bradesco (BBD) down 28%, Itaú (ITUB) 25%, Patria (PAX) 16%, and Santander Brasil (BSBR) 12%. Analysts expect XP's earnings per share to rise 43% from 2025 to 2028, but risks include political uncertainty and a weaker real.
