Mastercard Inc. (MA, Financial)
Mastercard has seen a deceleration in business from the lockdowns. Roughly 22% of their revenues are cross-border transactions which are sensitive to global travel. With the growth in online shopping, the use of digital payments has accelerated over cash. Also, cash tends to carry more germs and requires face-to-face interactions. They are likely well situated to survive any short-term negative environment with nearly $7 billion in cash and equivalents and the historical ability to generate over $8 billion in cash from operating activities annually.
From Jeff Auxier (Trades, Portfolio)'s Auxier Asset Management spring 2020 market commentary.
