Visa Inc. (V) shares climbed more than 5% to an all time high of $70.16 on Friday. The move comes on a big volume too with the issue currently trading nearly 10 million shares, compared to the average volume of 7.82 million shares.
The surge came after Bloomberg reported that the world’s largest payments network is in preliminary talks to buy former subsidiary Visa Europe Ltd. in a deal that may be valued at as much as $20 billion.
Shares of Visa rose $4.66 to $69.68 in afternoon trading. The 52-week range for the stock is now $48.80 to $70.16. Shares of the 171.10 billion market cap company have risen 28.57% year-over-year and 1.76% year-to-date.
The chart below shows where ticker has traded over the past 12 months.