Here's Why MoneyGram International Is Soaring Today
Money transfer company MoneyGram International (NASDAQ: MGI) has been one of the stock market's best performers recently. The stock had already more than tripled since June and is up by another 7% today.
As of noon EDT on Tuesday, MoneyGram shares were trading for about $5.70, as compared to a low of $1.33 reached at the end of May.
Most of the recent rally in MoneyGram can be attributed to the company's partnership with cryptocurrency company Ripple, which also took a substantial stake in MoneyGram. However, today's rally is for a different reason.
Source Fool.com
