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Visa getting roughed up today?
Posted on 7/31/13 at 11:26 am
Posted on 7/31/13 at 11:26 am
I searched but couldn't find any bad news. What's goin on today? Considering picking up a few shares
8
Posted on 7/31/13 at 11:31 am to LSUTOM07
Dunno. It was up early in sympathy to good report from Mastercard (MA). Now they are both in the tank. Sell on the good news. Good projections too. Go figure.
Posted on 7/31/13 at 11:31 am to LSUTOM07
Good thing I only have 10 shares. I'm in at 190.
Posted on 7/31/13 at 11:37 am to wegotdatwood
It is due to a fricking batshit insane ruling by a judge regarding swipe fees.
Retailers have been lobbying hard for years for the fed to limit the cost that they pay to banks and payment processors for debit card swipes. Previously there was no limit and the price was set based on the market (what a novel concept!)
The fed created a limit at .21 cents which was roughly half of what was charged before. This of course caused the end of free checking accounts and no noticeable decrease in prices by the retailers so like is typical with federal regulation the cost was simply passed on to the consumer.
The judge today tossed out the rule saying it didn't go low enough... fricking absurd.
Retailers have been lobbying hard for years for the fed to limit the cost that they pay to banks and payment processors for debit card swipes. Previously there was no limit and the price was set based on the market (what a novel concept!)
The fed created a limit at .21 cents which was roughly half of what was charged before. This of course caused the end of free checking accounts and no noticeable decrease in prices by the retailers so like is typical with federal regulation the cost was simply passed on to the consumer.
The judge today tossed out the rule saying it didn't go low enough... fricking absurd.
This post was edited on 7/31/13 at 11:38 am
Posted on 7/31/13 at 11:37 am to LSUTOM07
Uh Oh, Bitcoin taking over.
Posted on 7/31/13 at 11:39 am to jso0003
quote:
jso0003
Thanks. It wasn't making sense. Knowledge is the key. Again.
This post was edited on 7/31/13 at 11:40 am
Posted on 7/31/13 at 11:43 am to LSUTOM07
Tried to get in when it was down 10% but didn't have the cash sitting there, liquidated a holding and got it at 176.90. Been eyeing it for a while.
Posted on 7/31/13 at 11:44 am to ynlvr
No problem, sorry my post probably wasn't the most eloquent explanation ha but I'm pissed off and typing from my phone.
Posted on 7/31/13 at 11:44 am to jso0003
Even with that, lots of room to grow. Still, sucks.
Posted on 7/31/13 at 11:47 am to jso0003
Is the ruling final? I can't see how. But I think it's down mostly because of the "possibility" of the ruling going through. If it goes to appeals, then you'll see a pop, and a big one if the ruling gets overturned.
Posted on 7/31/13 at 11:56 am to jso0003
quote:
Previously there was no limit and the price was set based on the market
Not really market based when 4 companies set whatever fee they want... I don't agree with the ruling but it is not as clear cut as you make it out to be and is wayyy above my paygrade
Posted on 7/31/13 at 11:58 am to BACONisMEATcandy
quote:
Not really market based when 4 companies set whatever fee they want
Kinda like cell phones, tv/internet service, computer OS, etc. amiright?
This post was edited on 7/31/13 at 12:01 pm
Posted on 7/31/13 at 12:16 pm to ell_13
quote:On CNBC they said the court stayed the fees and ordered the Fed to re-visit the fees for a second opinion....from the Fed.
Is the ruling final?
The Fed can appeal if it wants to do so.
Posted on 7/31/13 at 12:20 pm to LSUTOM07
Been really busy this morning and didn't see this until now. Should have set an alert for V because I've been thinking about buying lately and was waiting for something like this.
Just got in at $184.99. Obviously no where near the low this morning, but whatever, I'm in it for the long haul.
ETA: and it went back down 
Just got in at $184.99. Obviously no where near the low this morning, but whatever, I'm in it for the long haul.
ETA: and it went back down
This post was edited on 7/31/13 at 1:01 pm
Posted on 7/31/13 at 12:40 pm to wegotdatwood
Crap, I missedd the intraday lows by a long shot. Still getting some more though.
Posted on 7/31/13 at 1:23 pm to nelatf
Im getting roughed up on some shares I bought this morning at $183, this is utterly ridiculous, last week visa smashed earnings by a mile and it shot up to $195 and today it hit $170??? What a joke, this judge
Posted on 7/31/13 at 1:26 pm to LSUTOM07
Perfect time to hop in 
Posted on 7/31/13 at 1:30 pm to donRANDOMnumbers
it really is a great time, their earnings release last week showed the massive growth the company is experiencing, of course as usual big brother sticks his nose where it shouldn't be and messes everything up
Posted on 7/31/13 at 1:51 pm to ThaBigFella
Got in at $181.60 for 20 shares.
I've been waiting for the right time to get in on Visa..pissed i didnt set the alarm and get in on the 170s
I've been waiting for the right time to get in on Visa..pissed i didnt set the alarm and get in on the 170s
Posted on 7/31/13 at 2:04 pm to Toula
Being I'm a little newer to investing and still quite young, Visa has been outside of my price range. However, after seeing yet another great earnings period and no reason for such a huge hit tonight, I purchased my first 10 shares at $180.03. Will be holding on to this until I retire so I'm not sweating too much over such a large purchase so early.
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