Shares of Monitise Plc (LON:MONI)(OTCMKTS:MONIF) were crushed last week under the weight of the announcement by Visa Inc (NYSE:V) that it was “considering its options”regarding its 5.5 percent holdingin Monitise. “Visa intends to continue increasing its investment in its own in-house capabilities and, as a result, reducing its use of external resources,” Visa also said.
Also see Monitise Plc Now Second Most Shorted Stock In U.K
Visa Inc (NYSE:V)is the largest customer at Monitise which processes mobile payments, purchases and transfers worth $88 billion annually.
In the chart below, note the stock’s sharp gap-down fall on the day of the announcement. Technically, however, the stock’s troubles likely began much earlier in...
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