Eric Bolling says shoppers are using credit cards on eBay (EBAY) and Amazon (AMZN). That, he says, is where Mastercard and other credit cards are really hot! He thinks the play is VeriSign (VRSN), the company that secures transactions online.
Tim Strazzini thinks that MA is also benefiting from consumers spending abroad. That’s a huge tailwind for them.
Jeff Macke says consumers didn’t fall off the edge of a cliff and stop spending entirely. MA has so many things going on in their business, a little consumer weakness isn’t death for them.
Guy Adami says 77% of transactions in 1995 were done with cash and checks. That number is less than 50% today. You can't argue the numbers, more and more people are using credit cards. "But don’t chase this stock, own it on a pull back,” he says.
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On May 2, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money tradersStrazzini Owns (C), (MPEL), (MER), (NWS-A) Bolling Owns (MPEL), Bolling Owns Natural Gas Futures
“Pali Capital acts as an underwriter in the public offering of securities and structured products and the statements of Mr. Strazzini on this Program is not an endorsement of such securities or structured products or any offering of such securities or structured products.”
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