Nu Holdings Stock Is Falling. Here's Why I'm Buying Shares.
The digital bank in Latin America still has significant potential.
Nu Holdings Stock Is Falling. Here's Why I'm Buying Shares.
Overview
Few stocks are as misunderstood as Nu Holdings (NYSE: NU). The digital bank, which focuses on Latin America, is poised to generate substantial profits in the years to come, but it keeps being downgraded by Wall Street due to misinterpretations of its lending business.
Shares are now down 37% from their highs, while revenue grew 42% year over year last quarter. Here's why I'm buying more shares of Nu Holdings after this recent dip.
Details
As of last quarter, the company had 135 million customers, most of them in Brazil. Over half of adults in the country have an account with the digital bank, which aims to bring modern banking tools to those whom legacy banks previously disregarded, keeping them out of the financial system.
Source
Originally published at www.fool.com.
