🔴 Nu Holdings is trading 21.17% down in pre-market as Lula’s reelection unsettled investors

Nu Holdings is trading at $11.95, down 21.17% in pre-market, amid investor concern after President Luiz Inácio Lula da Silva won reelection in Brazil’s October 25 election.

• Reuters reported sharp pressure on Brazilian assets; CNBC said investors were bracing for heightened volatility after Lula’s win.
• Nu Holdings announced its CTO’s departure October 23, but available reporting does not establish it as the cause of the drop.