Why Visa Stock Tumbled on Thursday
On Thursday, the otherwise mighty payment card giant (NYSE: V) was the second-worst performing S 500 index component stock. It fell by nearly 2.6% in value, following news that the status of a large pile of non-publicly traded shares could soon be changed.
Visa announced that it has begun a process to allow its Class B shareholders to freely sell some of their stock.
The Class A shares are the ones that are publicly traded, while Classes B and C shares are not. Both of the latter are mainly owned by financial institutions that partner with Visa.
Source Fool.com
Visa Inc. A Stock
€242.60
-0.160%
The stock is an absolute favorite of our community with 49 Buy predictions and no Sell predictions.
With a target price of 280 € there is a slightly positive potential of 15.42% for Visa Inc. A compared to the current price of 242.6 €.
