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Why Nu Stock Rose 17% in June

TheMotleyFool 
0 0 05.07.23
Why Nu Stock Rose 17% in JunePhoto, wide shot, wide-angle lens, Private equity firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/2b695cca-48cb-4195-802a-e3385fb90ec0.png
 

Shares of Brazilian bank Nu Holdings (NYSE: NU) stock gained 13% in June, according to data provided by S&P Global Market Intelligence. It was still riding the wave of an excellent first-quarter earnings report released in May and rising investor confidence in the market.

Nu has been posting very strong growth metrics since it went public in 2021. It's a young, disruptive company that offers a customer-centric and digital experience, and it's catching on.

This can be clearly seen in customer count, which increased 33% from last year, or by nearly 20 million customers, to 79.1 million in the 2023 first quarter. That's a lot of people joining in and using Nu's services.

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Source Fool.com

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