Brazil Stocks Slump After Lula Win as ARK Buys Nu and MercadoLibre
Stocktwits reports ARK bought Nu Holdings and MercadoLibre shares as the iShares MSCI Brazil ETF fell nearly 20% after Lula's election win.
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what happened
Cathie Wood's ARK Invest bought shares of Nu Holdings (NU) and MercadoLibre (MELI) on Monday, amid a sharp selloff in Brazilian assets after the presidential election, according to Stocktwits.
The outlet reported that the iShares MSCI Brazil ETF (EWZ) fell nearly 20% at the close, while Petrobras (PBR) dropped nearly 14%. Markets had expected right-wing Senator Flavio Bolsonaro to win, but leftist Luiz Inacio Lula da Silva took a fourth term instead.
Investor Michael Burry called the MercadoLibre decline an opportunity to buy, saying he sees no fundamental impact on the company.
why it matters
The key question for investors now is the fiscal direction of the new administration and the path of interest rates in Brazil. Until convincing budget commitments emerge, pressure on local stocks, bonds and the real may persist.
market impact
Brazilian assets: political uncertainty weighs on EWZ, PBR and the real
tags
instruments
sources
- Cathie Wood’s ARK Scoops Up 2 Brazilian Stocks Amid Selloff On Lula’s Win; Michael Burry Sees ‘Opportunity’ In One — Stocktwits, 27 October 2026 at 04:20 UTC
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