Why Synchrony Financial Fell 18.6% in March
Synchrony Financial (NYSE: SYF) saw its stock price plummet 18.6% in March, according to S&P Global Market Intelligence. This financial company was well off the pace of the S&P 500, which was up 3.6% for the month. As of April 4, Synchrony was down about 23% year to date, trading at around $35 per share.
Synchrony Financial is one of the leading credit card issuers in the country, so it lends money to credit card users for their purchases. But it's different than many others in the space because it primarily offers store cards, which can only be used for purchases at a specific store.
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Source Fool.com
