Stock Market Today: Nu Holdings Slides 4.5% While Broader Market Gains

Shares of Nu Holdings (NYSE: NU) tumbled 4.5% on Thursday, July 10, to close at $13.03, marking a significant pullback. The Brazilian digital banking platform's stock traded on unusually high volume, with approximately 107.8 million shares changing hands -- roughly 79% above its 50-day average volume of 60.1 million shares.The decline came on a day when broader markets moved higher, with the S&P 500 gaining 0.27% and the Dow Jones Industrial Average rising 0.43%. Nu's performance also diverged from competitor SoFi Technologies (NASDAQ: SOFI), which climbed 3.7% following its recent expansion of cryptocurrency trading services. However, fellow Latin American fintech Inter & Co (NASDAQ: INTR) also retreated, falling 1.6% on the day.Despite Thursday's setback, Nu Holdings remains in technically positive territory, trading above both its 50-day ($12.64) and 200-day ($12.49) moving averages. The stock has gained approximately 25.8% year-to-date, maintaining its longer-term upward trajectory. With no specific catalyst for the day's decline, it's possible that it is being caused by multiple factors, including a potential growth slowdown, broader market concerns about inflation, and rising interest rates in Latin America. The increased trading volume suggests institutional repositioning or profit-taking following Nu's impressive performance in recent months.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool