QUOTE AND NEWS
SeekingAlpha  Jul 23  Comment 
By Stephen Simpson, CFA: Roller coasters are something of a Marmite proposition - you either love them or you hate them - and so too with roller coaster stocks like Green Dot (NYSE:GDOT). The basic concept of prepaid reloadable debit cards is a...
DailyFinance  Jun 12  Comment 
Green Dot Corporation (NYSE:GDOT) today announced it has named Joshua Goines as General Manager of GoBank. GoBank is Green Dot’s award-winning, FDIC-insured checking account offering and in this position, Joshua will be...
SeekingAlpha  May 22  Comment 
By Benjamin Sinclair: Green Dot (GDOT) is the market leader in the prepaid debit card industry, with 4.5 million active cardholders in the United States. Besides offering its own branded cards, GDOT is the program manager for Walmart's MoneyCard...
Benzinga  May 2  Comment 
In a report published Friday, Compass Point analyst Michael Tarkan reiterated a Buy rating on Green Dot (NYSE: GDOT), but lowered the price target from $28.00 to $25.00. In the report, Compass Point noted, “We are maintaining our Buy rating...
SeekingAlpha  May 1  Comment 
Green Dot Corporation (GDOT) Q1 2014 Earnings Conference Call April 30, 2014 5:00 p.m. ET Executives Steven W. Streit - Founder, Chairman, Chief Executive Officer and President Grace Wang - Chief Financial Officer Chris Mammone...
CNNMoney.com  Apr 9  Comment 
One of Sam Altman's fondest moments as a tech entrepreneur is the day he met Steve Jobs.
Insurance Journal  Feb 27  Comment 
State transportation officials say an initiative to recover money to pay for damage to state property in traffic accidents has netted the agency more than $1 million. GDOT officials say annual damages to state property — such as signs,...
DailyFinance  Feb 26  Comment 
Green Dot Corporation (NYSE:GDOT) today announced it has been chosen as a 2014 Paybefore Awards winner in four categories for its prepaid debit card products and award-winning mobile bank account, GoBank. Green Dot shares...
DailyFinance  Feb 20  Comment 
In celebration of the South by Southwest (SXSW) Festival next month, Green Dot Corporation’s GoBank (NYSE:GDOT) is partnering with Austin-based non-profit shelter and adoption service, Austin Pets Alive!;...
Benzinga  Feb 18  Comment 
In a report published Tuesday, Morgan Stanley analyst Smittipon Srethapramote upgraded the rating on Green Dot (NYSE: GDOT) from Underweight to Equal-Weight, and reiterated the $19.00 price target. In the report, Morgan Stanley noted,...




 
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Green Dot (GDOT) (NYSE: GDOT) sells prepaid debit cards through third party retailers such as Wal-Mart (WMT). The company provides the retailer with a commission of the sale of the debit cards in return for selling them. The cards are rechargeable and can be used anywhere that a Mastercard (MA) or Visa (V) is accepted. These cards have been used as a replacement for credit cards but without any fear of penalty fees, overdraft fees, or minimum balances.[1]

The company's initial public offering of stock filed on the NYSE and went public on 21 July 2010. It was priced at $36, above the initial price range of $32-$35. The major underwriters were J P Morgan Chase (JPM) and Morgan Stanley (MS). The company raised $164M by selling 4.56M shares [2]

Green Dot purposely kept the IPO small at under 4.6M shares because it did not need to raise money. The company had $102M in cash and does not have any debt on its books. The company did not want to dilute its shares, but instead wanted to gain liquidity for some of its prominent owners. This made the Green Dot shares relatively high in demand since fewer shares were sold than were in demand. The company issued 2.2M shares or 5.5% to Wal-Mart (WMT).[3]

The company's 2009 revenue was $234.8M which was a 40% increase from the $168.1M revenue from 2008. Net Income also rose by 118% in 2009 from $29.2M in 2008 to $63.7M. In 2009, a total of $4.7B was loaded onto Green Dot's debit cards, a 66% increase from 2008. This has made the company one of the leading providers of reloadable debit cards.[4]

I'm quite pleased with the inofmration in this one. TY!

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