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In their IPO. They sold 406 Million Class A Stock of shares at $44 a share ahead of the valuation of $37-42 per share as others were predicting. this only helped because the stock market had another record day by having the largest daily gain in 5 years. Visa surpasses AT&T’s $10.6 billion IPO in 2000. Thus making it the largest IPO in the United States. Another thing Visa has going for them is a projected 10% gain on their stocks for Wednesday’s trading because the market is rallying off of the Fed’s newest interest rate cut.

Visa will benefit in the long run since their main competitor, Mastercard’s stock has quadrupled since their IPO in 2006. Visa is using about $10.2 billion of proceeds to redeem shares held by its largest shareholders, including banks JP Morgan & Co (JPM.N: Quote, Profile, Research), Bank of America Corp (BAC.N: Quote, Profile, Research), National City Corp (NCC.N: Quote, Profile, Research) and Citigroup Inc (C.N: Quote, Profile, Research).

Visa is a good indicator against the credit crunch since they do not have to worry about late payments and defaulted accounts.

As reported about earlier

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stimulus mentioned earlier

For the first time ever, gold has reached $1,000.00 USD an ounce. This shows that in a time of perceived recession, commodity prices still rise. The fact that gold is viewed as indicator that inflation is being staved off.

Exchange-traded funds now own more than 915 tons of gold, according to Morgan Stanley, making them the equivalent of a central bank. That has allowed retail investors to participate in the boom. And while high                                                                                                                                 prices may choke off jewelery demand a bit, they have not yet had the     effect of increasing supply; mining output peaked earlier in the decade.

We’ll see where this rough and tumble times take us!

Visa, the world’s largest credit card operator plans to have an initial public offering (IPO) to raise capital for the company due to the huge decrease in the credit market. Some interesting stats that will help increase Visa’s growth is that by 2011, 55% of transactions will be cashless. (more…)