I have a crazy busy day today-- Acupuncture for my hernia (I assume) // my kid comes home from college today!!! //
Let me leave you on the down lo... DLO.
My wife has a friend who is daughter of Fred Alger.
Fred Alger Management, an investment management company, released its “Alger Small Cap Growth Fund” third quarter 2023 investor letter. In the third quarter, the fund outperformed the Russell 2000 Growth Index. The Information Technology and Healthcare sectors contributed to the fund’s relative performance in the quarter, while Consumer Discretionary and Communications services detracted from performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Alger Small Cap Growth Fund highlighted stocks like DLocal Limited (NASDAQ:
DLO) in the Q3 2023 investor letter. Headquartered in Montevideo, Uruguay, DLocal Limited (NASDAQ DLO) is a payment processing platform. On November 30, 2023, DLocal Limited (NASDAQ DLO) stock closed at $17.25 per share. One-month return of DLocal Limited (NASDAQ DLO) was -5.48%, and its shares gained 39.23% of their value over the last 52 weeks. DLocal Limited (NASDAQ DLO) has a market capitalization of $4.995 billion.
Alger Small Cap Growth Fund made the following comment about DLocal Limited (NASDAQ DLO) in its Q3 2023 investor letter:
"
DLocal Limited(NASDAQ DLO) is a fast-growing global payment and technology company that enables cross-border and local-to-locale- commerce payments for over 330 merchants in 29 emerging market countries through its proprietary, cloud-based platform. We believe the company is well positioned to potentially grow market share within the emerging markets, as the business helps alleviate key pain points for global enterprise merchants around processing e-commerce payments. During the quarter, the company announced that Pedro Arnt, the CFO of Mercado Libre. will now serve as co-CEO of DLocal. During his time as CFO of Mercado Libre, his expertise in scaling the business led to its market cap expanding over 10 times. After the announcement of Pedro Arnt as co-CEO. shares of DLocal contributed to performance."
I find this interesting because another HF manager I know also tipped me on DLO recently.
This is a crowded space and tough to stand out.
KEEP DLO on your Watch List------------------
