Why Mastercard Stock Jumped 15.4% Higher in October
Shares of Mastercard (NYSE: MA) took off in October, gaining 15.4% for the month, according to S&P Global Market Intelligence. The credit card giant's stock is down about 8% year to date, trading at roughly $328 per share as of Nov. 8.
Mastercard outperformed the major stock market indexes, including the Dow Jones Industrial Average, which had its best month since 1976, up 14%. It also beat the S&P 500, which rose 8%, and the Nasdaq, which climbed 3.9%.
October was earnings month, and it was generally a pretty good one for Mastercard, which helped spur the stock higher. Mastercard posted Q3 results on Oct. 27, and its shares jumped after the company reported robust revenue and earnings growth, beating analysts' estimates.
Source Fool.com
