Why WEX Stock Just Popped 7%
Shares of Wex (NYSE: WEX), which facilitates corporate payments for such varied services as fueling up trucks, paying employee benefits, and making business trips, is seeing its share price rise 7% through 11:25 a.m. EDT. Curiously, the reason for this rise is because Wex will not be growing this business.
Instead, Wex is backing out of a deal to expand its travel services business, and today, a court in England gave it the green light to do so.
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Source Fool.com
