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In this clip from The Call @ Hedgeye, Financials analyst Josh Steiner highlights a disagreement concerning Amazon.com, Inc. (AMZN) threatening to not accept Visa Inc. (V) payments in the UK on their credit products. “This might sound like a big deal, but it’s a very small amount of Visa’s total volume,” explains Steiner. “But obviously since it’s Amazon the market freaks out and the stocks down quite a bit.” “The backstory here is that when the UK voted to leave the EU, what that enabled Visa and Mastercard to do was raise prices on the UK. That’s really what Amazon is try to push back on.” |
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