Nu Stock’s Record Quarter Fails to Sway Traders
Nu Holdings shares traded at $12.18 Monday afternoon, down 0.1%, after a 5.7% drop Friday and a 10% slide since May 11. Investors focused on higher loan-loss provisions despite record Q1 revenue of $5.3 billion and net income of $871 million, which missed analyst estimates. The 15-to-90-day non-performing loan ratio rose to 5.0% from 4.1% last quarter.