Why Discover Financial Services Surged 20.5% in April

Shares of Discover Financial Services (NYSE: DFS) rose 20.5% in the month of April, according to data from S&P Global Market Intelligence. Discover is one of only a few card networks that collects discount revenue from merchants, but its primary business is in making loans -- mainly credit card loans to its customers.

As such, shares cratered in March, as the COVID-19 outbreak spread across the world and forced an economic shutdown in the U.S. With many businesses closing and unemployment skyrocketing, Discover and other lenders plunged. However, after new stimulus measures and some potential green shoots on coronavirus treatments, shares partially bounced back in April.

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Source Fool.com