financial stocks to buy

Do You Have These 2 Top Financial Stocks On Your Watchlist This Year?

Many financial stocks saw a large decline when we entered the current economic crisis. It all started in late February when the coronavirus pandemic took over the world. This has been like nothing we have seen in our lifetimes before. The economic crisis caused consumers to start saving their money more than ever. Investors are also looking at financial stocks and with good reason. It is possible for financial stocks to rise when the economy recovers more.

Currently, the world of financial stocks is very volatile. There is still no proper treatment for the ongoing coronavirus as many people are still spending less money. The only way financial stocks will truly be able to strive is if the economy fully opens. When good news for the economy is released, financial stocks tend to rise.

Financial stocks can still be speculative as nothing in the economy is certain. That being said there still is money to be made in financial stocks. It is important to keep up with financial stock news in case there’s an opportunity to make money. The economy will not fully recover for a while just like some financial stocks. Let’s look at two financial stocks to watch as the market proceeds and advances.

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Top Financial Stocks To Buy Or Sell This Year: Visa

The first financial stock to watch is Visa Inc. (V stock report). Visa is a California based company that focuses on financial services. This includes electric funds transfers, credit cards, debit cards, and more. Visa is the second-largest card payment company in the world. Shares of V stock have started to rise up after collapsing due to the economic state of the country.

financial stocks (v stock)

On June 15th, Visa partnered with Facebook (FB stock report) on a new deal. Visa is allowing Facebook to use its payment services on the Facebook-owned WhatsApp in Brazil. WhatsApp is a messenger and VoIP service that has over 2 billion users as of February 2020. Facebook purchased WhatsApp back in 2014 for $19.3 billion and it has continued to grow since. In many countries, it is the main way to communicate electronically. Jack Forestell, the CPO of Visa said in a statement, “As digital becomes the epicenter of daily life during the global pandemic, being able to move money in real-time is increasingly critical for consumers and businesses.”

This will allow small businesses in Brazil to receive payments from customers. Brazil is the second largest market for WhatsApp. Over 120 million people use WhatsApp in Brazil. This deal will also allow people to link their Visa cards to the app. This deal caused an increase in shares of V stock. V stock price was around $190 a share when the market closed on June 15th. When the market opened on June 16th, shares of V stock rose to an average of $197 a share. V stock price was around $210 before the economic collapse. This suggests that V stock is getting close to a full recovery in share price. Visa expanding its business will allow V stock to see more potential momentum.

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Top Financial Stocks To Buy Or Sell This Year: Mastercard

The next financial stock to watch is Mastercard Incorporated (MA stock report). Just like Visa, Mastercard is a financial services company focusing on electric payments, debit cards, credit cards, and more. The company went public in 2006 and has grown strong over time. When more people are spending money with their cards, the company benefits. E-commerce sales are up in the United States right now. Hardware, furniture, and grocery store profits are also up at the moment.

financial stocks to buy (MA stock)

Visa announced that things became better for business when states began to reopen. The same can be assumed for Mastercard as they offer similar services. Senior advisor for Mastercard, Steve Sadove stated, “The shift to digital shopping has been undeniable. Everything else has been incredibly unpredictable. The question is what changes will stick around for the long term. Investing in your home and shopping local are two recent trends. Heightened demand for touchless services is another, which could have tremendous impact on what stores look like and how they blend their online and brick and mortar footprints.”

MA stock fell when the economic crisis began. Now, MA stock price has begun to recover. Before the economic crash, MA stock was at around $340 a share. MA stock price went as low as $203 a share during the crash. As of June 16th, MA stock has increased to around $306 a share. MA stock price increased around 3.7% from June 15th as well. Both MA stock and V stock are impacted by the economy right now. So as the economy continues to recover, it is possible for these financial stocks to follow suit.

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