Despite the continued macroeconomic headwinds, payments technology company Visa Inc. (V) remained almost unaffected. Its payment volume and cross-border volume increased 12% and 40% year-over-year, respectively, in the fiscal third quarter ended June 30, 2022. Cross-border volume was the highest since the pandemic started in early 2020.
The company reported an overall robust financial performance in the quarter, with sustained growth in overall payments volume, and the stock has gained 6.1% over the past month. However, House Speaker Nancy Pelosi and her husband sold 10,000 shares of V worth between $1 million and $5 million in June.
