Nu, parent to the well-known Latin American neobank Nubank, reported its fourth-quarter and 2021 financial performance yesterday evening to the apparent disappointment of investors.
Since its flotation last year in a large offering, shares of Nu have depreciated from a high north of $12 per share – the company is listed on the New York Stock Exchange and a local bourse – to just under $9 per share before it reported its results. In early-morning trading today, Nu’s shares rose in the wake of the company’s earnings report, but when regular trading began, the company slouched to a loss of around 9%.
Despite recent declines, Nu is still worth nearly $37 billion as of this morning, per Yahoo Finance data.
For the burgeoning neobanking sector, which has seen myriad startups around the world raise huge sums of money to build consumer-friendly digital banki …