Why Shares of Nu Holdings Rose Today

Shares of Brazilian fintech Nu Holdings (NYSE: NU) closed Thursday's trading session up by 11.5% for no obvious reason, although the price move could have been tied to some big investors recently disclosing stakes in the company, which only went public a few months ago.

Nu bucked the broader market trend as stocks lost ground amid fears about Russia's possible plans to invade Ukraine. On Wednesday, it looked like Russian President Vladimir Putin was making moves to reduce tension, and the market reacted positively. But with Washington now saying that Russia's military has actually increased the size of its troop deployment, concerns about an invasion are rising again.

It's possible Nu Holding's share price rise may have been driven by recent disclosures from Berkshire Hathaway and Tiger Global Management that they had taken positions in the company. But this explanation doesn't fully add up.

Source Fool.com