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Nu Holdings Ltd. (NU) reachead $13.23 at the closing of the latest trading day, reflecting a +0.99% change compared to its last close.
Recently, Zacks.com users have been paying close attention to Nu (NU). This makes it worthwhile to examine what the stock has in store.
Interest rates are going down, and these stocks should be going up.
These two digital banking businesses are finding outsize success.
Nu has successfully challenged the traditional banking industry within Brazil. Now that it's captured market share there, it's just getting started in newer regions.
Nu Holdings Ltd. (NU) closed the most recent trading day at $13.87, moving +0.34% from the previous trading session.
Nu Holdings is the parent company of Nubank, a fast growing branchless bank with a presence in three Latin American countries. Nu delivered accelerating revenue growth with profitability growing twice as fast in its latest financial update.
We've been bullish on Nu Holdings since the start of the year, and shares are up significantly in that time. The company's Q2 report has only solidified our thesis. NU's digital banking model in Brazil, Colombia, and Mexico has driven efficient client growth and high margins, positioning it well for future expansion. Shares of NU are reasonably priced at 6x FWD sales.
The latest trading day saw Nu Holdings Ltd. (NU) settling at $14.80, representing a -0.34% change from its previous close.
The Federal Reserve's long-awaited interest rate decision came in with the first cut in four years ; 50 basis points.