Nu Holdings is trading at $15.23, up 13.40%, as Brazilian stocks rallied after Flávio Bolsonaro led the first round of Brazil’s presidential election and advanced to an October 25 runoff against Lula.
- Reuters reported markets were expected to rally after the result.
- Coverage linked the move in U.S.-listed Brazilian shares to the election; major U.S. indices were mixed-to-modestly higher.
- Goldman Sachs’ customer-growth story was supporting background, not the clearest explanation for the sharp move.