1 Reason Nu Holdings Is Headed in the Right Direction
Like many tech and fintech stocks this year, the Berkshire Hathaway-backed Brazilian digital bank Nu Holdings (NYSE: NU) has seen its stock price struggle and is down more than 61% this year. Nu is a major disruptor in the Latin American banking space, first offering a credit card with no annual fees and then building out a suite of banking products from there. Nu has amassed close to 60 million customers but in the past has gotten questions regarding its high valuation and path to sustainable profitability.
Still, despite volatility in the market and bearish sentiment toward growth stocks, here is one reason I think Nu is heading in the right direction.
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Source Fool.com