Why Nu Stock Is Plummeting Today
Nu (NYSE: NU) stock is seeing big sell-offs in Friday's trading. The fintech company's share price was down 15.2% as of 11:30 a.m. ET and had been down as much as 17.2% earlier in the session.
After the market closed yesterday, Nu published its fourth-quarter results. While the company's earnings were in line with Wall Street's expectations, revenue fell short of the market's target -- and investors aren't happy with the company's forward guidance either.
Nu reported non-GAAP (adjusted) earnings of $0.12 per share on revenue of $2.99 billion. The profit for the period was in line with the average analyst estimate, but the average Wall Street estimate had called for sales of $3.17 billion in the period.
Source Fool.com
