1 No-Brainer Growth Stock to Buy Right Now for Less Than $1,000

Core Insights - Great companies rarely go on sale, especially those with rapid growth rates, but short-term corrections can provide investment opportunities [1] - Nu Holdings operates in Latin America, primarily in Colombia, Brazil, and Mexico, and has been recognized for its innovative approach to banking [2][4] Company Overview - Nu Holdings was founded by David Vélez, a former Sequoia Capital employee, who identified significant growth opportunities in the underdeveloped financial sectors of Latin America [3][5] - The company aims to disrupt traditional banking by utilizing a smartphone app, allowing for lower costs and faster service delivery compared to traditional banks [6] Market Penetration and Growth - Nu has rapidly gained market share, with over half of Brazilian adults now as customers, growing its total customer base from nearly zero in 2013 to over 100 million today [7] - Latin America has a population of over 650 million, indicating a substantial growth runway for Nu despite recent slowing growth rates [8] Valuation and Investment Potential - Following a recent pullback, Nu shares are trading at approximately 28 times earnings, which is cheaper than the S&P 500, with expected double-digit earnings growth this year [9] - On a forward basis, shares are trading at just 20 times expected earnings for the next year, making it an attractive investment opportunity [10]