Visa Stock Drops on Potential Sale of Shares By Major Banks
<p><a href='https://financialmodelingprep.com/financial-summary/V'>Visa (NYSE:V)</a> shares fell more than 3% intra-day today after the company launched a process allowing major U.S. banks, including JPMorgan Chase, Citigroup, and Bank of America, to sell their shares in the world's largest payments network. This move has generated mixed reactions among Wall Street analysts.</p>
<p>Jefferies suggests that the proposal may create a short-term overhang on Visa's stock, potentially raising investor concerns. In contrast, Morgan Stanley views the proposal as a potential solution to reduce uncertainty regarding the conversion and public trading of Class B shares.
Visa's plan involves discussions with investors to amend the share structure established prior to its 2008 initial public offering (IPO). If approved, this proposal would enable Class B shareholders to sell up to half of their stakes initially.</p>

NYSE:V