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Why Mastercard Stock Price Sank Lower on Tuesday

Dave Kovaleski, The Motley Fool
·3-min read
Why Mastercard Stock Price Sank Lower on Tuesday

Shares of Mastercard (NYSE: MA) bounced around on Tuesday, rising 2.7% shortly after the market opened, then falling as much as 1.8% in midafternoon, only to end the day down 1.3% at $286.48. The credit card giant jumped higher in early trading on Tuesday after the news came out that Mastercard was launching a new credit card with DoorDash (NYSE: DASH) -- the first ever for the food delivery service. Mastercard will be the exclusive credit card network for the DoorDash Rewards Mastercard, which will allow cardmembers to get benefits and earn rewards for purchases on and off the DoorDash platform.

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