Visa (V) Has a Solid Day Two, After Record IPO
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Investors continue to buy up yesterday's hot IPO, Visa (NYSE: V). The stock is up another 7% today after gaining over 28% on its market debut.
Investors are hoping Visa can match the success of Mastercard (NYSE: MA), which is up over 400% from its May 2006 IPO.
Credit card processors, like Visa and Mastercard, have enjoyed the switch from paper-based payments, such as cash and checks, to card-based and other electronic payments. The companies are not exposed to the credit squeeze, as they just process the payments instead of requiring payback from customers.
Investors are hoping Visa can match the success of Mastercard (NYSE: MA), which is up over 400% from its May 2006 IPO.
Credit card processors, like Visa and Mastercard, have enjoyed the switch from paper-based payments, such as cash and checks, to card-based and other electronic payments. The companies are not exposed to the credit squeeze, as they just process the payments instead of requiring payback from customers.
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