r/NuStock

The right-wing president candidate Flávio Bolsonaro got 47% of the votes in the first round of elections in Brazil compared to the left-wing President Lula da Silva who got 45% of the votes.

The Brazilian ETF Ibovespa is currently up 8.5% on the day and Nu Holdings is up 13% after this news.

Most people were actually expecting Lula da Silva to have more votes, but the opposite came true.

Flavio Bolsonaro's plans for the Brazilian economy is generally more liked, which should be positive for the Brazilian economy and thus for NuBank.

I don't really get how this is so important that it leads to a >8% gain on the Brazilian indexes, but I also don't know that much about these people, or the Brazilian elections.

Do you guys have any thoughts on this?