SAO PAULO, June 6, 2026, 17:07 (BRT)
Nu Holdings Ltd. finished the week 8.8% lower, as a $1 billion buyback plan did little to halt a drop triggered by a finance chief switch and worries over credit. The Brazilian digital bank’s shares on the NYSE closed Friday at $11.97, slipping 1.24% for the day and down from $13.13 a week ago, historical price data showed.
U.S. markets are shut for the weekend, so the real check will come Monday, June 8. That’s when investors will get their first full shot at reacting to the repurchase plan—whether they buy it as a sign of support, or see it as just another capital-allocation move after a tough week for the stock.
S&P 500 lost 2.64% and the Nasdaq Composite dropped 4.18% Friday, Reuters said. A strong U.S. jobs number hit both indexes, bringing back worries the Fed might not ease up. Growth stocks took the brunt as higher rates can chip away at the worth placed on future profits.
Nu said June 4 its board signed off on a share buyback of up to $1 billion in Class A ordinary shares for the next 12 months, through June 3, 2027. The company may buy shares in the open market or in private transactions, and could pause the program. Nu said it would fund the buyback from retained or future earnings.
Nu’s announcement came just three days after Rob Livingston was named its next chief financial officer. He’ll start July 13, taking over from Guilherme Lago. Lago will become a special adviser and stay on through August 31 to help with the handover. Livingston’s most recent job was CFO for North America at Visa. CFO stands for chief financial officer, the executive who handles a company’s capital, reports, liquidity, and finance for investors.
Lago was a prominent voice on finance at Nu. Following fourth-quarter earnings in February, he told Reuters profit had risen thanks to more customers, increased revenue per active customer and steady service costs. “This brings positive leverage to revenue,” he said. Reuters
BofA Securities cut Nu to Underperform from Neutral and dropped its price target to $10 from $16, Investing.com said. Underperform means the analyst sees the stock trailing a benchmark or peers. BofA said it’s less certain after the CFO change as Nu faces stiffer credit risk — that’s when borrowers don’t pay — in Brazil and expands in Mexico, Colombia and the U.S. If losses increase or new markets eat up more capital, the planned buyback may not matter.
Nu’s scale remains a key factor. In its first-quarter earnings out last month, the company said it added more than 135 million customers and topped $5 billion in revenue for the first time. Net income was $871 million, and return on equity hit 29%. CEO and founder David Vélez described Nu as “rebuilding banking around AI,” talking about artificial intelligence tools, and called Mexico at an “inflection point.” Business Wire
Brazil is the next market to watch for Nu. The company’s growth now lines up against heavyweights Itaú Unibanco, Bradesco, and Santander Brasil. Reuters points out these large private-sector banks use their bigger balance sheets and price moves to challenge Nubank’s low-fee play. Investors aren’t just watching customer numbers at Nu anymore; focus is shifting to profit per customer as credit conditions tighten.
Nu traders are watching to see if the buyback helps steady the stock, which has been moving on management news. Another question is whether risk appetite comes back after Friday’s U.S. rate surprise. Nu trades in New York, but most of its business is still in Latin America.
Nu’s rebound depends on whether investors move past the CFO transition and return to watching customer numbers, Mexico’s push to break even, and the new capital return plan. If markets turn lower again or new worries hit Brazil credit, the $1 billion buyback might look defensive, not opportunistic.
