It looks like Visa is a lover that does not stay the night. After closing on Friday at $71, the price of Visa collapsed quickly in Monday’s early morning trading to open at $64, come down to $60, and now, at the time of this current writing, the price of the stock has already bounced back to almost $70. It’s not even a 2% decline for the day. What started off as a significant one-day haircut ended up becoming a pedestrian garden variety trading day.
If you live on the West Coast and didn’t wake up until 8:30 local time, the entire fluctuation in the price of Visa’s stock came and left before you even got a chance to wake up. It puts me in an unfamiliar position–I’m not used to issuing one-day updates on the price of a company’s stock since long-term investing is usually immune to the need for constant updates.