Tuesday, March 25, 2008

Mastercard Rallying

MasterCard (MA) opened at 222.30. So far today, the stock has hit a low of 222.00 and a high of 230.00. MA is now trading at 226.38, up 6.00 (2.70%). The stock hit its 52 week high of 228.93 today and set its 52 week low of 105.75 in March.

MA has been on fire over the past year, and like other stocks has been rising as investors continue to be excited by the news that JPMorgan Chase (JPM) is in talks to boost its offer for Bear Stearns (BSC) to $10 a share from $2.

Also encouraging is the strong housing report and excitement over the Visa IPO. I remain bullish on this stock, but it is getting pricey, so I would wait for a fall back.

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