ITUB Stock: A Story of Reddit, Warren Buffett and Currency Manipulation Allegations
Brenden Rearick, 16 June 2021
You’ve got to hand it to r/WallStreetBets: They’ve gotten very robust in their stock selection process as compared to the GameStop (NYSE:GME) era. The message board, which has grown significantly in the first half of the year, is picking mortgage REITs and private prisons as some of the latest meme stocks. It should not be a surprise then that the retail investor group is looking to follow whales to new frontiers, like they are doing today with Itaú Unibanco Holdings (NYSE:ITUB) stock.
Warren Buffett’s Berkshire Hathaway (NYSE:BRK-A, NYSE:BRK-B) recently invested $500 million in Brazilian Nubank, a financial servicer which deals heavily in digital currency.
The company is taking it upon itself to expand internationally and attract new clientele, which it is obviously succeeding in thanks to the Buffett investment.
