Visa faces a 4.5% stock drop amid DOJ antitrust accusations, following Pelosi’s recent stock divestment.
Sectors & Industries
September 27, 2024
Pelosi’s been selling Visa stock for a while. Her latest sale? July 1st, 2024—just before the DOJ hit Visa with a massive antitrust lawsuit. They’re accusing Visa of dominating over 60% of debit transactions and using that power to squeeze billions in fees out of businesses and consumers.
Visa’s been accused of forcing merchants to stick with their network by slapping them with huge penalties if they use cheaper alternatives. And that’s not all—they’ve allegedly been limiting competition from tech rivals like Apple and PayPal through questionable agreements.
Visa’s stock price has dropped by 4.5% over the last five days, now sitting at $272.71. The drop followed the DOJ’s announcement, reflecting investor concerns over the potential fallout of this lawsuit, and could signal more volatility for Visa as this case progresses.
We actually flagged Pelosi's Visa sale back in July. In our video, we covered the potential implications for investors and what it could signal about consumer spending trends.
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