Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Green Dot
So what: The report indicated that American Express was withdrawing its prepaid cards out of Wal-Mart Stores
Now what: That helps allay competitive fears for Green Dot, as its exclusive distribution partnership with Wal-Mart comprises the majority of its sales. As the prepaid-card market has grown, larger rivals in financial services like American Express and JPMorgan Chase have been jumping in, putting a lead on smaller companies like Green Dot. If Jefferies turns out right, then this is definitely good news for Green Dot.
Interested in more info on Green Dot? Add it to your Watchlist.