Nu Holdings Ltd is trading 10.4% down at $11.63 following a leadership transition and a significant analyst downgrade.
- Bank of America cut its rating on the stock to Underperform with a sharply lower price target, citing concerns over leadership turnover and rising credit costs.
- The company recently named a new CFO while the outgoing finance chief moved to an advisory role, a move that pressured shares further following a mixed quarterly earnings update.