Strong investor enthusiasm led to a market rally in early 2023 as signs pointed to a strong American consumer, low unemployment, and tapering inflation. 

But mixed corporate performance and global geopolitical events have tempered that enthusiasm, and the S&P 500 is down 8% during the past three months. While the overall market loss reflects the movements of many stocks, some stocks have kept their gains. Nu Holdings (NYSE: NU) stock is already up more than 100% this year. Can it still go higher?

Investors have been piling into growth stocks this year after last year's flight to safety. Nu is a top growth stock, and it's been posting phenomenal performance despite economic instability.

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Source Fool.com