Why Nu Holdings Stock Sank 15.6% In February
Shares of Nu Holdings (NYSE: NU) sank 15.6% in February and continued to fall in March, according to data from S&P Global Market Intelligence. After reporting earnings late in the month, investors were disappointed about the uncertainty with the banking giant's expansion strategy into the United States, as well as the continued macroeconomic uncertainty that has rattled markets. The stock is still up 43% in the past year.
Here's why Nu Holdings stock fell in February, and whether it is a buy for your portfolio right now.
Nu Holdings operates Nu Bank, a digital banking giant that has taken the Brazilian, Mexican, and Colombian markets by storm. It now has 131 million customers as it looks poised to dominate Latin American consumer banking.
Source Fool.com
