Why Mastercard Stock Sank on Wednesday
Within the finance sector over many years, (NYSE: MA) has been one of the more popular stocks to own. Yet there was a distinct lack of love for the payment card giant on Wednesday, as investors traded out of the stock to the point where it lost 2% of its value.
The culprit? The company's latest set of quarterly results.
Revenue came in at $6.3 billion for Mastercard in its first quarter, which was 10% higher year over year. On a currency-neutral basis -- which matters, as the company operates around the world, and its native currency is the strong U.S. dollar -- that growth amounted to 11%. This was on the back of a nearly 9% increase in gross dollar volume (GDV) to almost $2.3 trillion.
Source Fool.com
Mastercard Inc. A Stock
€488.10
0.040%
The stock is one of the favorites of our community with 50 Buy predictions and 3 Sell predictions.
With a target price of 566 € there is a slightly positive potential of 15.96% for Mastercard Inc. A compared to the current price of 488.1 €.
