Business

Market roundup: Why Nubank is leaving Brazil’s stock market

The decision doesn't make much sense to analysts and, therefore, to investors

nubank stock market
Illustration: Romane Lombard/TBR

🔔 The dashboard: Brazil’s benchmark stock index Ibovespa lost 2.70 percent this week. Meanwhile, the Brazilian Real gained 3.10 percent against the U.S. Dollar.

  • Biggest gains: Positivo Inf (hardware), + 12.81 percent.
  • Biggest drops: Estacio (education), -14.10 percent.

Nubank says farewell to local listing and sends bad message to investors

Nine months after its initial public offering on the New York Stock Exchange and double-listing process in São Paulo, Nubank announced that it no longer wants to be a publicly-traded company in Brazil. 

State of play. In December 2021, Nubank opted for a double listing to launch its NuSócios program,...

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