On June 4, Nu Holdings rose 3.22% in regular trading, trading at $12.085/share, with trading volume of $151 million. The rebound follows two consecutive sessions of heavy selling that had driven the stock down over 12%.
On the news front, Nu Holdings announced its board approved a share repurchase program of up to $1 billion of Class A ordinary shares over a 12-month period. The company stated the buyback is the outcome of its capital allocation policy, as operations currently generate significant capital surplus. The announcement effectively countered recent selling pressure triggered by the departure of CFO Guilherme Lago and Susquehanna's downgrade from bullish to neutral with a target price cut from $18 to $13. Susquehanna cited weakening profit margins and a new capital investment cycle as the rationale for the downgrade.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments