Nu Holdings and MercadoLibre Stocks Sink as Lula Wins: What Analysts Say Now

TLDR Nu Holdings fell 13% and MercadoLibre dropped 7% in Sunday overnight trading after Lula won Brazil’s election. The iShares MSCI Brazil ETF fell nearly 19%, and November real futures dropped 10% in Asian trading. Lula won reelection with about 51.8% of the vote, beating Flavio Bolsonaro. Analysts rate Nu Holdings Moderate Buy and MercadoLibre Strong Buy, with price targets above Friday’s close. MercadoLibre reports third-quarter results in early November. Shares of Nu Holdings and MercadoLibre fell sharply in Sunday overnight trading. Nu Holdings dropped 13%, and MercadoLibre fell 7%. Nu Holdings Ltd., NU The iShares MSCI Brazil ETF lost nearly 19%. The drop points to wide selling of Brazilian assets. The moves followed Brazil’s presidential runoff.

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