I don't believe the lost in business equates to 17% drop in share price. The business for MGI from walmart stores only represent 13 percent of revenue (and I"m not sure thats all domestic). And I may not know the domestic business completely but can't anyone just open an account with BofA and drop cash from any branch to anyones account? Thats equivalent of domestic transfers. If they are undocumented a friend can open account. Would be cheaper then paying fees. I really don't think this is a big problem for MGI.
agreed. bought some at 15 yesterday. I don't think a company like MGI is just going to roll over and die. actually I bought thinking maybe Western Union might buy them to get bigger and compete better.