Why Warren Buffett Stock Nu Holdings Dived by 13% This Week

Although Warren Buffett is a justifiably celebrated and successful investor, not all of his company's holdings have soared in popularity recently. Case in point: Brazil-based fintech Nu Holdings (NYSE: NU), which according to data compiled by S&P Global Market Intelligence suffered a 13% decline in share price over this just-completed trading week. This occurred on news of a fresh asset buy and an analyst's price target cut.Of the two news items, that cut was the more impactful. It was made by Tito Labarta, an analyst at perennially influential financial services company Goldman Sachs. Tuesday morning before market open, Labarta shaved $2 off his Nu Holdings price target for a new level of $17. On the bright side, he maintained his buy recommendation on the stock. However, when a company is in a relatively early stage of its existence, even modest adjustments like that can have quite the impact on investor sentiment. Nu Holdings has already suffered the indignity of being sold by Buffett, whose Berkshire Hathaway trimmed its stake in the company's shares by nearly 20% earlier this year. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool