Why Mastercard Plummeted by Over 8% on Wednesday

Why Mastercard Plummeted by Over 8% on Wednesday

Everyone expected Mastercard to post declines in revenue and profitability; there's a global pandemic raging, after all, and economies are constricted because of it. One was Mastercard's usually robust take from cross-border transactions; these fell a worrying 36% year over year. Meanwhile, the company suffered in comparison to arch-rival Visa (NYSE: V), which released more encouraging Q3 results after market close the same day.