Why MoneyGram International Jumped 13% Today

Shares of money transfer and digital payments company MoneyGram International (NASDAQ: MGI) are up 13% as of 3 p.m. EDT on Tuesday, after rising as much as 18% earlier in the day. 

Today's update continues the momentum the company has carried over the past several months, with shares responding for a gain of over 70% since the start of 2020. 

MoneyGram reported that September marked the ninth straight month of triple-digit cross-border transaction growth in its direct-to-consumer business. The segment, dubbed MoneyGram Online, grew 161% compared to the same period a year ago. 

Continue reading

Source Fool.com