Visa (V) Benefiting From a Plastic Christmas
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It's been a plastic Christmas...
At least that's what the stock price of Visa (NYSE: V) is saying. Shares of the credit-card processor hit a 52-week high of $99.37 earlier Monday before backing off a bit. Currently shares sit at $98.50, up 1.1 percent.
The action jives with data showing 2011 holiday spending will be up about 4 percent from last year. Online holiday spending is up 15 percent, according to ComScore. Nearly all online spending would be with plastic.
Not only are Visa shares benefiting, rival MasterCard (NYSE: MA) is also on a strong uptrend --- although they are off the best levels of the year. Shares of MasterCard last traded at $362.29, with a 52-week range of $215.42-$384.99.
At least that's what the stock price of Visa (NYSE: V) is saying. Shares of the credit-card processor hit a 52-week high of $99.37 earlier Monday before backing off a bit. Currently shares sit at $98.50, up 1.1 percent.
The action jives with data showing 2011 holiday spending will be up about 4 percent from last year. Online holiday spending is up 15 percent, according to ComScore. Nearly all online spending would be with plastic.
Not only are Visa shares benefiting, rival MasterCard (NYSE: MA) is also on a strong uptrend --- although they are off the best levels of the year. Shares of MasterCard last traded at $362.29, with a 52-week range of $215.42-$384.99.
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