Why Mastercard Stock Gained 16.1% in August
Shares of Mastercard (NYSE: MA) gained 16.1% in August, according to data provided by S&P Global Market Intelligence. The stock has rebounded more than 50% from the low of $237 reached in March and is now hitting new all-time highs.
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Mastercard reported a weaker set of earnings in July as a result of a decline in spending across many countries due to pandemic-induced border closures and lockdowns. Revenue declined by 19% year over year while net income weakened by 31% year over year. CEO Ajay Banga has discussed how the company is monitoring spending levels within the framework of four phases: containment, stabilization, normalization, and growth.
Source Fool.com
