Why Nu Stock Lost 19% in February
Nu Holdings (NYSE: NU) stock lost 19% of its value in February, according to data provided by S&P Global Market Intelligence. The stock dropped after its fourth-quarter earnings report, which demonstrated strong performance but negative sentiment about new growth plans and the economy in Brazil.
Nu is an all-digital bank headquartered in Brazil, and it's growing fast. It has been adding millions of customers quarterly, driving revenue growth and profitability at scale.
There was more of that in the fourth quarter. It added 4.5 million customers in the quarter for a total of 114.2 million across its three markets of Brazil, Mexico, and Colombia. Most of those customers are still in Brazil, where it has 58% of the adult population as members and has become the third-largest financial institution despite the historical stronghold of about six large banks.
Source Fool.com
