The company released solid third-quarter earnings in November, but it followed a month with bad news for investors, and general market volatility specifically targeted financial stocks. Management's first response to the announcement was to assure investors that this was only a small part of a large strategy with many revenue streams, and that "BCB efforts to promote competition is seen by PAGS as an opportunity." That did give a temporary lift to PagSeguro stock, but it got slammed again in November due to broader market fears about inflation and the omicron variant.