Nu Holdings (NYSE: NU) went public in late 2021 with the backing of Warren Buffett's holding company, Berkshire Hathaway. That was at the height of the bull market, when lofty valuations were par for the course, and investors pushed prices higher and higher. 

At the time, I said the fintech was too expensive to buy, with a price-to-sales ratio nearing 60. It's hard to justify that kind of valuation regardless of how fast a company is growing, and it was interesting that it was a Buffett stock, because Buffett is known for his value style of investing.

Nu stock is now about 48% off its highs, and it's trading at 10 times trailing 12-month sales. That's already up about double from lows earlier this year, and the stock is up more than 50% in 2023.

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Source Fool.com