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Visa Inc. is on the brink of being hit by a Justice Department lawsuit alleging that it illegally monopolized the US debt-card market. Bloomberg's Sridhar Natarajan says the company is the heavyweight in the US debit-card market, with about 70% of the business.
Visa shares fell 3% on Tuesday after a report said the U.S. Department of Justice plans to file a lawsuit against the world's largest payment processor, alleging it illegally monopolized the country's debit-card market.
Visa stock slumps on reports of an incoming antitrust lawsuit from the DOJ over its debit card business. Credit card stocks near buy points.
Credit card giant Visa Inc (NYSE:V, ETR:3V64) is facing a US antitrust action for anti-competitive behaviour with US reports suggesting the writ might be filed as early as today. Visa indicated as far back as 2021 that the US Department of Justice was looking into its business methods for potential competitive law breaches.
Reports say the U.S. Justice Department's antitrust division could file a lawsuit as soon as Tuesday.
The U.S. Justice Department reportedly plans to file an antitrust suit against Visa as early as Tuesday (Sept. 24). The agency plans to allege that the company illegally monopolized the U.S. debit card market through a range of anticompetitive acts, Bloomberg reported Monday (Sept.
Visa Inc. stock fell 1.6% in after-hours trading Monday following reports that the payments giant faces an antitrust lawsuit from the U.S. Justice Department.
In the most recent trading session, Visa (V) closed at $288.63, indicating a +1.36% shift from the previous trading day.
Visa is expected to remain the market leader in the global payment processor market in 2024, with growing market share on a YoY basis. With robust YTD results, we believe that the fintech is well positioned to deliver on the FY2024 net revenue guidance with richer bottom-lines. As the market prices in a pivot in the upcoming FOMC meeting in September 2024, we may see the Consumer Confidence Index improve nearer to 2019 levels.
Visa Inc. (V, Financial) is a household name, and for good reason. That little blue-and-gold card has become a global symbol of convenience, tucked away in wallets around the world, supported by strong financials, a dominant market position and strategic investments in emerging technologies like blockchain and digital wallets.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?