Visa stock slips after-hours after SEC filing on class B conversion rates — what to watch next
Visa shares fell 0.8% to $350.71 in after-hours trading following an SEC filing that lowered conversion rates for its class B-1 and B-2 shares tied to its litigation escrow plan. The adjustment, effective Dec. 23, reduced the as-converted class B-1 share count by about 27,782 and class B-2 by about 1.38 million. U.S. markets were closed Thursday for New Year’s Day.