Nubank loses its position as the most valuable bank in Latin America

Nubank lost its position, conquered in December, as the most valuable bank in Latin America. The digital bank closed this Friday (1/14) with a value of US$ 37.4 billion, while Itaú Unibanco, now in first place, concluded with US$ 39.5 billion.

When it debuted on the Brazilian and US Stock Exchanges (NYSE), the fintech priced its shares at US$9 each, in an initial public offering (IPO). At the time, the digital bank debuted worth US$ 41.5 billion (about R$ 230 billion).

Nubank’s shares fell by 13.4% in 2022. The expectation of an increase in interest rates in the United States and the uncertainties involved in the Brazilian economic scenario contributed to the decrease in the company’s value.

Itaú shares rose 13.3% in the same period on the New York Stock Exchange. Meanwhile, Bradesco’s shares also increased by 10.2%.

Impact of Omicron

At the end of December, fintech felt the impact of the Ômicron variant on the financial market. The rookie on the New York Stock Exchange suffered more than a 10% drop in value on December 20.

Just three weeks after its debut on the US market, Nubank (NU) shares were traded at $8.90, down 9.18% after having retreated more than 10% in the morning. .

It is the first time that the company’s shares are traded below the IPO price (defined price), of US$ 9.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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