I Said This Fintech Growth Stock Was Bottoming Out in June, and I Was Right
This stock is up 40% since hitting a 52-week low on June 3. The rally could be just getting started.
Overview
Earnings season can be humbling, so I hope you allow me the opportunity to boast when given the chance. The last time I wrote about Nu Holdings (NYSE: NU) -- on June 3 -- the Latin American fintech was sliding. The parent company of Brazil's fast-growing NuBank was reeling from analyst downgrades and mounting headwinds.
I argued that it wasn't too soon to call a bottom on the stock, the same day it hit a 52-week low of $11.20. For now, I was right. Following weeks of upticks and a jump after posting blowout results after Thursday's market close, Nu has jumped almost 40% from its June low.
Details
I guess it's time for another bold prediction: Nu's bounce is just getting started.
Source
Originally published at www.fool.com.