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Mastercard At $400 - Assessing The Potential For A Resurgence To Propel The Financial Titan To Unprecedented Heights

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Mastercard At $400 - Assessing The Potential For A Resurgence To Propel The Financial Titan To Unprecedented Heights
  • Mastercard has collaborated with Mercedes-Benz to launch a revolutionary in-car payments solution, allowing customers to make fuel payments directly from their cars.
  • Despite this groundbreaking innovation, Mastercard’s stock has experienced a 6% decline.
  • The presence of a support level at $390 acts as a potential safeguard against further declines, and if the stock can overcome the $400 level again, it has the potential to reach and possibly surpass its previous all-time high, with year-to-date gains standing at 14%.

Mastercard Inc (NYSE: MA) and Mercedes-Benz have joined hands to introduce an innovative in-car payments solution, representing a major advancement in automotive technology and financial transactions.

This collaboration aims to revolutionize the way customers pay for fuel, enabling direct payments from their cars through state-of-the-art fingerprint technology.

This groundbreaking partnership sets a new standard in convenience and security for customers, showcasing the endless possibilities of merging cutting-edge technology with everyday activities.

The innovative in-car payments system seamlessly integrates with its infotainment system and offers users an unprecedented level of convenience and efficiency.

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Soon to launch at more than 3,600 service stations throughout Germany, this pioneering solution will provide thousands of Mercedes-Benz drivers with a secure and streamlined method to conduct transactions without ever leaving their vehicles.

The groundbreaking innovation is not being reflected in the stock price, which is currently down, hovering around $400.

However, this dip could prove to be a pivotal turning point, setting the stage for a potential surge in the value of the stock.

In fact, just last month, Mastercard reached an all-time high of $418, surpassing a previous record set in April.

The stock experienced a decline of more than 6%, briefly dropping below the $400 threshold.

Nevertheless, it has since recovered and is now nearing this significant milestone.

The existence of the subsequent support level below the price at $390 may serve as a safeguard, potentially minimizing the effects of any future downturns.

If the stock can break through the $400 level once more, it holds the potential to ascend, possibly surpassing its all-time high of $418. The year-to-date gains for the stock stand at 14%.

After the closing bell on Thursday, September 28, the stock closed at $399.44, trading up by 0.98%.

This article was submitted by an external contributor and may not represent the views and opinions of Benzinga.

 

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