Poll: So, Did You Buy Visa?
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I did. Did you?
I called my broker Scottrade this morning when the markets opened, but had to wait nearly 20 minutes before my called was transferred to Scottrade’s national service center instead being answered by brokers at my local office. I never had problem contacting them before.
When my call eventually went through, I was told by the broker who answered my phone that the bid prices were anywhere between $50 to $100, but the stock hasn’t come to secondary market yet. Then she asked me how much I am willing to buy and I told her $60. So I placed a limit order to buy 250 share of Visa (V) when it’s available. At 10:15 am, the order was executed and the price I paid was $59.50.
Well, I could have waited and got the stock at a little bit lower price, but I am not too concerned about the price I paid since I plan to hold this stock for a long, long time.
Two days ago, I ran a poll asking whether you will buy Visa and of the 371 respondents, 336 said they will buy the stock and among those who said Yes, 248 indicated that they will buy Visa today. So, did you actually buy the stock?
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me too. there was sooo much activity before the stocks were available, and the pricing all over the place, that it was very difficult to know what was going on with the stock. at least with my broker. the price was fluctuating between $55-$215 per share, that i was a little concerned that i just bought shares at $215/share. fortunately, i didn’t. i sold bellweather stocks in order to raise funds for visa, and i’m not looking back.
Yup. I got it at 58.50, however I did not buy as many shares as you.
MA - started at about $58 a share and now 2 months later it’s at @220 a share. If VISA does the same….holy moly!!!
Tim: I also sold some stocks to buy Visa because I don’t want to add new money to stocks right now. Whether Visa can repeat the success of MasterCard is unclear, but in the long term, it’s a good investment given the growth rate of Visa in the past few years. Now it’s a public company, we can expect it be more aggressive in expansion.
I think Visa is a sucker’s bet. Visa’s revenues depend on transaction volume, which is likely to slow in a time of recession. That the banks are willing to sell this “gem” now is rather telling.
People buy neccessities on a debit card. Recession or not. Visa is a win win. No one writes paper checks anymore.
Gas, food, clothes all are paid via VISA now, not cash or checks
and even though recession in the u.s., people all over the rest of the world are still using visa debit and cc for purchases. i don’t see how visa can’t increase. of course, they could have a bunch of weenies operating the company, but they have been good so far.
I’ve got an open limit purchase for V at $45. In this market, I feel anything can happen, so I think there’s a chance yet for my order to be filled in the next two months. I can wait for a better price.
If I miss it, well, then I’ll just console myself with some lame excuses to ease my regret.
Well I purchase 250 shares as soon as it was available and as of now looking at a 14 percent gain even my helper who just finished his bachelors degree hop on the band wagon but also was looking at the job market in our local area and join the air force to futher his education .Wow a great young man with a b average told me the best offer was slinging hambugers at 9.25,sorry little off topic I quess but I look for visita to drop back for awhile then pick back up maybe next year…
Your broker didnt execute until almost 60 bucks? She/He screwed you royally
Mike: IPO stocks are usually not available on secondary market on the IPO day when the stocks open to trade. There are always delays. Not much the broker can do if the stock is not available.
Yes, but I think people who even were buying through some online brokers got in at a better price than $60… but who cares right..that is a good entry point
Mike: For that stock (and some other stocks I bought on IPO day on secondary market), I can only place limit order and my limit was $60. So I got the stock as soon as it opened on secondary market and dipped below $60. Of course, from what I saw if I didn’t place limit order and instead waited throughout the day, then I could have got the stock at a better price. It’s a “gamble” when the stock can go either way. However, as you said, looking at the current price level and if I plan to hold the stock for a long time as I will, then whether I bought it at $57 or $60 doesn’t really matter that much, as long as I bought it early