During the bear market of 2022, growth stocks in verticals such as technology and fintech were pummeled due to their lofty valuations and decelerating growth rates, in addition to a sluggish macroeconomic backdrop. However, the ongoing market rebound has driven the valuations of several companies in these sectors higher.
One such stock - that also happens to be part of Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) portfolio - is Brazilian fintech firm Nu Holdings (NU). Valued at a market cap of $56.2 billion, Nu Holdings stock has surged close to 45% year-to-date, easily outperforming the broader equities market. Let’s see if this breakout Buffett stock is still a buy right now.
