Why Nu Stock Gained 21% in August
Shares of Nu Holdings (NYSE: NU) jumped by 21% in August, according to data provided by S&P Global Market Intelligence. The parent of Brazil-based NuBank reported strong second-quarter results, and it may be expanding into new markets.
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Nu is a digital bank operating in Brazil, Mexico, and Colombia. It provides easy-to-use banking services for mass-market consumers, but it recently started expanding its target customer base to include a more affluent clientele as well. It added 4.1 million new customers in the second quarter, bringing its total to 122.7 million, an 18% increase year over year.
Source Fool.com
