Cramer’s Morning Thoughts: 20 Stocks to Watch

3. Visa Inc. (NYSE:V)

Number of Hedge Fund Investors: 163

According to the latest Morning Thoughts post, Visa Inc. (NYSE:V) is reportedly facing a potential monopoly lawsuit from the Justice Department over its debit card business, according to a Bloomberg report.

“The Justice Department is planning to file a monopoly lawsuit against Visa over its debit card business, according to a Bloomberg report.”

Despite facing economic uncertainties, Visa Inc. (NYSE:V) has proven to be resilient with its diverse revenue streams and strong brand. As more people and businesses continue to embrace digital payments, Visa Inc. (NYSE:V) is well-positioned for sustained growth and profitability, making it a compelling option for investors.

Visa Inc. (NYSE:V) is still one of the strong investment choices, thanks to its impressive financial results and the ongoing shift toward digital payments. In Q2 2024 earnings report, Visa Inc. (NYSE:V) announced revenue of $7.8 billion, an 11% increase from last year, along with a net income of $4.2 billion, showing solid profitability driven by high transaction volumes. Visa Inc. (NYSE:V) processed 47 billion transactions in the quarter, a 10% rise, highlighting the growing trend of cashless payments among consumers.

Visa Inc. (NYSE:V) is also investing in innovative technologies like contactless payments, digital wallets, and blockchain, which enhance its services and attract more clients. Recently, Visa Inc. (NYSE:V) partnered with various fintech companies to expand its digital payment options, further widening its customer base. Additionally, Visa Inc. (NYSE:V)’s initiatives to promote financial inclusion resonate positively with both consumers and businesses.

Aoris International Fund stated the following regarding Visa Inc. (NYSE:V) in its Q2 2024 investor letter:

“Visa Inc. (NYSE:V) operates the world’s largest payments network, which facilitates the movement of money between merchants, financial institutions, consumers, businesses, and governments.

The company is best known for enabling consumers to make debit and credit card payments. In the year to September 2023, 4.3 billion Visa cardholders made 213 billion transactions on its network, to a total value of US$12.1 trillion.

Compared to cash and cheques, which are still widely used around the world, Visa’s network is a more convenient, secure, and ubiquitous way for consumers to pay. Visa has invested to reduce friction and fraud in the payments experience, to the benefit of both merchants and consumers…” (Click here to read the full text)