Filed under: Bad news, Industry, MasterCard Inc’A’ (MA), Options, Technical Analysis, Politics
Mastercard Incorporated (NYSE: MA) stock is falling with other credit card companies as the Senate Homeland Security and Governmental Affairs subcommittee opens hearings this morning to investigate how companies raise individual consumers’ interest rates with little notice even as consumers pay bills regularly and promptly and their individual credit scores decline. Subcommittee chair Carl Levin, D-Mich., may use the potential of legislation to induce the credit card companies to change their practice of increasing interest rates on short notice. If you think this stock won’t be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on MA.
After hitting a one-year low of $90.50 last December, MA hit a one-year high of $206.43 last week. This morning, MA opened at $200.00. So far today the stock has hit a low of $197.10 and a high of $200.92. As of 11:50, MA is trading at $198.41, down $3.47 (-1.7%). The chart for MA looks bullish and steady, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.
Continue reading MasterCard (MA) lower as Senate hearings approach
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