Proposed change to Interchange Fees from the Fed is causing an exponential volume spike in shares of Visa, Inc. (NYSE: V) and Mastercard Incorporated (NYSE: MA). It took a while for the exponential volume spikes to appear but appear they did.
At 3:24 PM EST we now have over 37 million shares of Visa traded with a 11.6% drop and the price is at $68.02 versus a close of $76.94 yesterday.
At 3:24 PM EST there have been over 6.1 million shares of Mastercard with a 9.5% drop to $225.49. Average volume is only about 1.15 million shares.
JON C. OGG