Visa Shares Fall After DOJ Launches Investigation and GameStop Shares Inch Lower Before Earnings
On Friday, shares of Visa fell, closing down 6.24%.
Shares of the American financial payment company tumbled after the United States Department of Justice launched an investigation into the company for potential anti-competitive practices in the debit card market.
According to The Wall Street Journal, the Justice Department is looking to see if Visa, the largest card network in the U.S., “has limited merchants’ ability to route debit-card transactions over card networks that are often less expensive, according to people familiar with the matter.”
Visa said it is fully cooperating with the Justice Department.
Shares of Visa are up over 40% in the past 12 months.
On Thursday, shares of Jumia Technologies slightly fell, closing down 0.73%.
Shares of the American electronics retailer fell before the company reports fourth-quarter earnings Tuesday afternoon.
Analysts expect GameStop to report revenue of $2.2 billion for the three months ending in January. Adjusted earnings are expected to be $1.43 per share. While the company is expected to report a net income of $106.9 million in the fourth quarter, it is also expected to report a net loss of $188.7 million for the full year.
Shares of GameStop have skyrocketed over 5000% in the past 12 months.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.