Nubank plummets on potential M&A. What the market fears?
Nubank's stock falls more than 8% today on the Nasdaq following news that the digital bank is negotiating the purchase of Britain's Monzo Bank – a transformational deal for the Brazilian fintech, but one that would carry significant execution risks. With today's drop, Nubank is worth $60 billion on the Nasdaq.
Nubank's shares fell over 8% on the Nasdaq today after reports that the digital bank is in talks to buy UK-based Monzo Bank. The deal, valued between £8 billion and £10 billion, would be a major expansion for Nubank but carries significant execution risks. Monzo has 16 million customers and reported £1.7 billion in revenue and £172.6 million in pre-tax profit last year. Nubank's shares are now valued at $60 billion on the Nasdaq, down 21% over the past 12 months.
Written by urgent.news from Brazil Journal's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
