The Ultimate Growth Stock to Buy With $500 Right Now

What makes the ultimate growth stock? Beyond high growth rates, I'd say it has to have long-term growth drivers, be on the cusp of or already demonstrating profitability, have some sort of hedging or resilience, and not be overvalued.Sounds too good to be true? Check out Nu Holdings (NYSE: NU). Nu is a Brazil-based digital bank that offers a wide array of financial services in three Latin American countries, and it appeals to a broad base of customers through its low rates, easy-to-use platform, and modern technology. It has all this and more. Quarterly growth rates have been incredibly high for Nu as it adds customers at a fast pace -- and these customers are engaging at high rates. Nu added more than 5 million customers in the second quarter, zooming past 100 million for the first time, for a total of 104.5 million. Customers in its headquarters and main market of Brazil are still joining at a healthy clip despite more than half the adult population -- 56% -- already using the platform, and engagement rates are increasing as well, reaching 83.4% in the quarter.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool