The stock of Nu Holdings (NYSE: NU) has been on a downhill slide since the company joined the U.S. public market on Dec. 9, 2021. Unfortunately for Nu, it came public during a terrible economy in its primary market of Brazil and deteriorating investor sentiment in the U.S. stock market. If an investor just looked at the company's price history, they might think something is wrong with Nu. However, they would be mistaken. Here is one big reason to believe in Nu Holdings.

Nu Holdings is one of the few fintechs globally that has successfully transitioned from a one-product company to a multiproduct company. The company started building its business with credit cards and has successfully created one of the strongest consumer brands in Latin America.

Nu used its credit card business to finance the development of new business lines that include savings accounts, personal loans, business accounts, insurance, investment, and crypto.

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Source Fool.com