Stock Market Today, May 18: Nu Holdings Rises After Record Q1 Results Ease Profitability Concerns
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Nu Holdings (NYSE:NU), a Latin American digital banking and financial services provider, closed Monday at $12.29, up 0.78%. The stock moved as traders continued to reassess Nu’s recent record Q1 results against rising credit provisions and margin pressures. Investors are watching how profitability holds up as loan growth and digital banking expansion continue. Trading volume reached 59.4 million shares, nearly 11% above its three-month average of 53.3 million shares. Nu Holdings IPO'd in 2021 and has grown 19% since going public.S&P 500 slipped 0.07% to finish Monday’s session at 7,403, while the Nasdaq Composite fell 0.51% to close at 26,091. In digital banking and financial technology, peers were mixed: SoFi Technologies closed at $15.71, up 0.64%, while PagSeguro Digital ended at $9.18, up 3.61%.Nu’s stock dropped roughly 10% last week after it narrowly missed analysts’ expectations with its Q1 earnings. However, the company inched higher today, in part due to news that Coatue Management raised its Nu holdings from 29 million shares to 40 million in the latest quarter. Furthermore, while Nu’s earnings were slightly disappointing, the company’s long-term outlook remains impressive.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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