Payment Methods

In A Short Week, Some Stock Seesaws

In the grand scheme of things, a dime’s movement in a stock price may not be much to get excited about – unless you are coming off a very small base, of course. Take Everi Holdings, which also had outsized movement in the previous week. The stock bounced in the latest period up 10 cents to end at $1.40. The company said last week that it would be partnering with Spin Games in an effort to expand social and real money wagering platforms across the United States and Europe.

Mitek Systems jumped nearly 8 percent, riding the news that the firm will be added to the Russell 2000 Index, which in turn means that portfolio managers and funds mimicking the index composition would have to add that company to their portfolios via rebalancing efforts.

Payments and hardware juggernaut NCR also gained ground on the heels of news that it has introduced new EMV payments technology.

Capital One proved to be the beneficiary of an upgrade from DA Davidson, with movement from buy to neutral, with a $76 price target maintained.

Turning to notable losses in the week, Planet Payment suffered a bit, down 5 percent, amid a slew of bad news from Brazil (as in crime, sickness among athletes due to untreated water and various other negative headlines). The firm partnered with Visa to deliver payment processing during the games. 

Thus far into the day, beginning a new week, stocks are touching new highs, which could be lingering euphoria after the jobs report last week, and also a sanguine attitude toward earnings season, which will get underway this month.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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