Visa (NYSE:V) stock has quickly remade the ground it lost due to the novel-coronavirus pandemic. Shares of the multinational financial-services firm are now up almost 9% in 2020, despite the shares falling to as low as $133.93 per share in March. Bulls who bought Visa stock at that point are now laughing their way to the bank.
Considering the stock is still trading at a discount to its 52-week high of $217.35, many are wondering if the shares can climb further.
Visa Is Still Facing Adversity
Covid-19 is still very much a reality. This crisis is not expected to end until early next year. And Visa’s transaction volumes will probably not recover to pre-pandemic levels for awhile.
So the fact that the shares are now trading north