Wait for Visa Stock to Fall Below $200 Before Buying It



a close up of a sign: several Visa (V) branded credit cards


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several Visa (V) branded credit cards

Visa (NYSE:V) stock has quickly remade the ground it lost due to the novel-coronavirus pandemic. Shares of the multinational financial-services firm are now up almost 9% in 2020, despite the shares falling to as low as $133.93 per share in March. Bulls who bought Visa stock at that point are now laughing their way to the bank.



a close up of a sign: several Visa (V) branded credit cards


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several Visa (V) branded credit cards

Considering the stock is still trading at a discount to its 52-week high of $217.35, many are wondering if the shares can climb further.

Visa Is Still Facing Adversity

Covid-19 is still very much a reality. This crisis is not expected to end until early next year. And Visa’s transaction volumes will probably not recover to pre-pandemic levels for awhile.

So the fact that the shares are now trading north

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Goldman Sachs Is Buying General Motors’ Credit-Card Business. Here’s Why.

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View of General Motors in downtown Detroit


Chris Kelleher/Dreamstime


Goldman Sachs

is diving deeper into consumer banking.

The bank is close to buying

General Motors

(ticker: GM) credit card business for roughly $2.5 billion, The Wall Street Journal reported Thursday. The expected deal comes one year after Goldman Sachs (GS) launched its first credit card with

Apple

(AAPL) and marks the bank’s continued efforts to diversify its offerings away from its storied investment banking history.

Back in January, at its first-ever investor day, Goldman Sachs discussed its plans to offer more consumer banking services. In April, it announced a deal with

JetBlue Airways

(JBLU) that would allow travelers to make installment payments for their trips on the bank’s MarcusPay platform.

Goldman’s deeper push into consumer lending comes at an interesting time. Other banks have set aside billions in reserves to protect against potential loan losses due to the

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