Hi Sue,
We provide General Advice at MM hence todays comments are purely around how we view NU, not considering your personal circumstances.
NU has already evolved into a $US70bn financial business, but it’s certainly not one we’ve followed, or know well, but as you say what comes next after surging over 300% in less than 2-years, is the important thing.
The company plans to announce its earnings on November 13, 2024. NU is forecast to report quarterly earnings of $0.10 per share, which would represent YoY growth of +42.86%, which is obviously coming off a low base. Most recent consensus estimate is targeting quarterly revenue of $3.01 billion, up +40.73% from the year-ago period, i.e. this is not a share price founded on smoke and mirrors. The MM website shows US brokers like NU with one Sell out of 19 views compared to 9 Buys & 2 Strong Buys.
- We view the momentum as strong, but it will come down to their upcoming earnings to see if this can continue. Given such a strong run, we wouldn’t be at all surprised if the next 10-15% move was a pullback.
From a “bottom draw vs take some profit perspective there is always the option to implement a bit of both as we often do when scaling both in and out of positions.
