Nubank shares returned on Monday (13) part of the gains accumulated last week, when the shares of the Brazilian financial technology company reached a strong high when they debuted on the New York Stock Exchange (Nyse) last Thursday (9) .
At 4:23 pm, Nubank shares were down 9.70%, quoted at US$ 10.70 (R$ 60.29). The drop comes on a low day in American markets generated by expectations of higher interest rates in the country.
The S&P 500 index lost 0.67%, while the Nasdaq and Dow Jones lost 0.88% and 0.64%, respectively.
On the Brazilian Stock Exchange, Nubank’s BDRs (certificates corresponding to shares traded on the NYSE) retreated 4.78%, to R$ 10.93. Each BDR represents a 1/6th fraction of a share originally traded in the United States.
In the first two days of trading on Wall Street, Nubank’s valuation reached 31.67%. The share price jumped from US$9 to US$11.85 (from R$50.71 to R$66.77).
Despite the drop on Monday, the company’s shares still accumulated gains of 19.78%.
On the eve of an eventual announcement of further tightening of the financial stimulus policy in the United States, the shares of the Brazilian company are being penalized by a movement in the market to reduce exposure to less predictable assets, according to Thiago Lobão, president of Catarina Capital.
Pressured by the biggest rise in consumer prices in nearly 40 years, the Fed (Federal Reserve, the US central bank) may indicate next Wednesday (15th) an anticipation of the rise in the country’s interest rates and a faster reduction in purchases of goods. active. Measures were initiated during the pandemic to combat the effects of the stalemate in the economy.
In addition to the unfavorable moment for risky investments, the result of the day at Nubank corresponds to a natural adjustment after the strong demand generated by the IPO (initial public offering), according to Lobão.
“There are a large number of players who did not enter the offer and now want to buy, while we see a large number of people who are clearing their positions, given the gain already obtained,” says the analyst. “This movement, of large funds buying and selling, generates all this oscillation.”
The variation is expected to remain strong in the coming days, until the market finds the ideal share price, as buyers interested in holding long-term positions replace those looking for short-term gains. “There will be a natural exchange of positions,” he says.
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