Business

Market Roundup: Why Brazilian fintechs are crashing

Fintech Nubank went from being Latin America's most valuable bank to seeing its share price drop by more than half. And it's not the only Brazilian fintech facing struggles

fintech stock market
Photo: Shutterstock

Hello, and welcome to our first Market Roundup! Every week, we will sum up what you need to know to keep abreast of all the comings and goings in Brazilian markets — as well as Brazilian companies listed abroad. We know that markets and the economy are very different things, but one offers insights to explain what is happening to the other. 

So, without further ado:

Brazilian fintech disappointment

Nubank debuted in the stock market last December with a bang, instantly becoming Latin America’s most-valuable bank at over USD 52 million. On IPO day, Nubank shares were priced at...

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