Nubank has lost more than US$6 billion in market value since its IPO (Credit: Disclosure/Nubank)
With a 4.65% drop in BDRs listed on B3 (Brasil, Bolsa, Balcão), this Tuesday (18), Nubank’s securities deposit certificates closed the trading session at R$7.17 . On the NYSE (New York Stock Exchange), where the bank’s shares are listed, Nubank closed down 5.36%, with the shares quoted at US$ 8.21.
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The figures show that since the fintech IPO, on December 9, 2021, Nubank has lost almost 40% of its value, according to information from “O Globo”.
Nubank has lost more than $6 billion in market value since going public. With the drop recorded in recent days, the company is no longer the most valuable financial institution in Latin America, passing the baton to Itaú Unibanco, with an estimated market value of US$ 39 billion.
The problem, however, is not with the bank. Like Nubank, other fintechs and technology companies are going through difficult times in the US. Examples of this are: digital brokerage Robinhood, which is down 15% in the year, Toast (restaurant software company) which is down 25% and Affirm (fintech), which is already down 31% in 2022. downward movement for companies in the sector on the North American stock market is general.
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