Why Mastercard Stock Price Sank Lower on Tuesday
Shares of Mastercard (NYSE: MA) bounced around on Tuesday, rising 2.7% shortly after the market opened, then falling as much as 1.8% in midafternoon, only to end the day down 1.3% at $286.48.
It was a mixed day on Wall Street as the Dow Jones Industrial Average was down 126 points (0.45%) and the S&P 500 was down 8 points (0.2%), but the Nasdaq was up 27 points (0.3%).
The credit card giant jumped higher in early trading on Tuesday after the news came out that Mastercard was launching a new credit card with DoorDash (NYSE: DASH) -- the first ever for the food delivery service. Mastercard will be the exclusive credit card network for the DoorDash Rewards Mastercard, which will allow cardmembers to get benefits and earn rewards for purchases on and off the DoorDash platform. Chase, owned by JPMorgan Chase (NYSE: JPM), will issue the card.
Source Fool.com
