DLocal Limited (NASDAQ: DLO) — Research Note as of 2026-09-24

This is a synthesis of available sources, not investment advice.

1. Recent Catalysts (last ~1–3 months)

Russell 2000 index inclusion (announced ~June 26, 2026). DLO was added to the U.S. small-cap Russell 2000 and related growth indexes as part of the 2026 reconstitution [1], [26]. This is arguably the dominant near-term catalyst: inclusion expands the investor base to index funds and systematic traders, and could boost daily volume and tighten bid-ask spreads [1]. The stock surged on the news [1].