After capping off 2019 with yet another increase in transaction volume and revenue, things have gotten hairy for Visa (NYSE: V). The fintech and digital payments leader's stock fell as much as 36% from its all-time highs in March, reeling with the rest of the market from the coronavirus pandemic and the ensuing lockdown on the economy. The stock remained nearly 24% off its highs at Thursday's close.
On one hand, there are good reasons for this pullback. Visa has already indicated a sharp reduction in payment volume in March 2020 compared to the year-ago period, and -- like the second-largest digital payment platform, Mastercard -- it carried a hefty premium after more than a decade of market-beating performance. But though this stock is still priced high and the short-term outlook is uncertain, the reasons to own Visa for the long haul are more relevant than ever.
Source Fool.com