Brazilian fintech Nu sees stock rally 20% in wake of Q2 earnings report (NYSE:NU)

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August 16, 2022

Brazilian fintech Nu sees stock rally 20% in wake of Q2 earnings report (NYSE:NU)

jamesteohart

Nu Holdings (NYSE:NU) stock rallied 20% on Tuesday, the day after the Brazilian fintech released a Q2 earnings report that topped estimates.

Shares of Nu opened at $5.18, dipping to a low of $5.01 in early trading before climbing to a high of $5.67 midday. The stock recently changed hands at $5.61 at approximately 12:10 p.m. ET.

After market close on Monday, Nu reported that Q2 revenue reach a new record high of $1.16B, surpassing Wall Street’s consensus estimate of $1.04B.

Nu, the parent company of Brazilian neobank NuBank, held an initial public offering in December, raising around $2.6B.

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