Shares of major credit card companies fell on Monday, Feb. 23, after a thought experiment report from Citrini Research raised concerns about how artificial intelligence (AI) could change the payments industry – however, a separate note from The Kobeissi Letter pushed back, saying the disruption risks are overstated.
According to market data shared by Bearly AI in a post on X, Visa dropped about 4.4%, Mastercard fell 6.3%, American Express slid 7.9%, and Capital One declined roughly 8% on Feb. 23 after Citrini’s note was published on Feb. 22.
Notably, by Tuesday afternoon, shares were mostly steady or slightly higher. Visa was around $306, flat on the day, while Mastercard traded near $497, up about 0.5%. American Express was also little changed at $321, and Capital One rose about 4% to around $197.
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