New York, March 2, 2026, 06:30 EST — Premarket
- Nu Holdings shares were down about 2.5% in pre-market trading
- Investors are still parsing last week’s results for signals on costs and credit
- U.S. data later this week could steer risk appetite for high-beta financial names
Nu Holdings Ltd shares fell 2.5% in pre-market trading on Monday to $14.61, after closing at $14.98 in the prior session. 1
The early dip matters because Nu has become a crowded trade for investors hunting growth in consumer credit, and crowded trades get punished fast when the story shifts from “growth” to “discipline.” Costs, provisions and the tone on credit are doing more work than customer adds right now.
The backdrop this week is rate-sensitive. Investors are bracing for key U.S. data that could nudge expectations for the Federal Reserve and swing appetite for riskier stocks, including fintech lenders. 2
Nu said in a filing last week it posted record quarterly revenue of $4.9 billion for the fourth quarter, with net income of $895 million and return on equity of 33% — a profitability gauge that compares earnings with shareholder capital. Chief Executive David Vélez said the company remained “fully focused on winning in Latin America” while building capabilities to become a broader digital banking platform.
CFO Guilherme Lago told Reuters the profit increase reflected customer growth, higher revenue per active customer and stable servicing costs: “This brings positive leverage to revenue,” he said. JPMorgan and Citi analysts pointed to costs and credit-loss trends — along with a tax-rate tailwind — as issues that could keep skeptics active even as Nu’s loan book rose 40% to $32.7 billion and its 90-days-plus delinquency rate edged down to 6.6%. 3
Pre-market trading can be thin, and prices can lurch on modest orders because fewer shares change hands than during the regular session.
But the downside case is straightforward: if credit losses climb faster than revenue or operating expenses stay sticky, the market can reprice earnings power again, and the stock can keep drifting lower.
Later on Monday, investors get the ISM manufacturing survey, which is released at 10 a.m. EST on the first business day of the month. 4
Beyond this week, traders will also be looking toward the Fed’s March 17-18 policy meeting, the next one tied to updated economic projections. 5
The next near-term marker is Friday: the U.S. employment report for February is scheduled for March 6 at 8:30 a.m. ET, a release that can jolt rate bets and risk appetite before the opening bell. 6
