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Why MoneyGram Stock Soared Today

TheMotleyFool

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Shares of MoneyGram International (NASDAQ: MGI) surged by more than 20% on Friday after the money transfer company said its direct-to-consumer business was growing at a torrid clip.

MoneyGram's cross-border revenue in its direct-to-consumer digital business, MoneyGram Online (MGO), skyrocketed 150% year over year in October. It marked the 10th straight month of triple-digit expansion for this increasingly important growth driver.

MoneyGram International's digital DTC business is growing rapidly. Image source: Getty Images.

Source Fool.com

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