Tether Diversifies Portfolio with $100M Investment in Latin American Agricultural Giant [Yahoo! Finance]
Adecoagro S.A. Common Shares (AGRO)
Last adecoagro s.a. common shares earnings: 5/21 04:13 pm
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Source: Yahoo! Finance
The firm recently acquired a 9.8% stake in Adecoagro, a prominent Latin American agricultural company, for $100 million. This marks Tether's first foray into the agricultural industry, signaling a diversification in holdings. Tether has historically directed its funds towards areas such as artificial intelligence, peer-to-peer platforms, Bitcoin mining operations, and digital education initiatives. This new investment suggests that Tether is exploring opportunities beyond the tech sector. According to a filing with the U.S. Securities and Exchange Commission, Tether used its own working capital to finance the Adecoagro investment. The purchase resulted in Tether acquiring 10,048,249 shares of the agricultural company, which accounts for nearly 10% of Adecoagro's outstanding common shares. Adecoagro, established in 2002, is known for its milk production operations in Argentina, boasting a processing capacity of 550,000 liters per day at its Buenos Aires plant. In 2005, Adecoagro
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News
- Adecoagro (AGRO) Ascends While Market Falls: Some Facts to Note [Yahoo! Finance]Yahoo! Finance
- Adecoagro S.A. (NYSE: AGRO) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating. They now have a $12.50 price target on the stock, down previously from $14.50.MarketBeat
- Tether's $100M Investment in LatAm Agriculture Firm May Be a Tokenization Play [Yahoo! Finance]Yahoo! Finance
- Adecoagro S.A. (NYSE: AGRO) had its price target lowered by analysts at Bank of America Co. from $15.50 to $14.50. They now have a "buy" rating on the stock.MarketBeat
- Investors in Adecoagro (NYSE:AGRO) have seen splendid returns of 107% over the past five years [Yahoo! Finance]Yahoo! Finance
AGRO
Sec Filings
- 9/20/24 - Form SC
- 9/11/24 - Form SC
- 8/16/24 - Form SC
- AGRO's page on the SEC website