Shares of the Brazilian investment management firm XP Inc. (NASDAQ: XP) had fallen more than 15% on the week at the close of trading Thursday after the company reported key performance indicators (KPIs) for the third quarter earlier in the week.
On Monday, XP reported several KPIs for the third quarter. While not all bad, the company reported that assets under custody fell 3% from the sequential quarter, and that total net inflows were 37 billion Brazilian real ($6.7 billion) in the third quarter versus 75 billion real in the second quarter.