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Why MoneyGram Shares Are Trading Higher Today

Tyree Gorges

MoneyGram International (NASDAQ: MGI) shares are trading higher after the company reported 100% year-over-year digital transaction growth in May.

MoneyGram's stock has seen an increase in volatility and visibility after rumors started circulating that Western Union has plans to make an offer to buy the company.

MoneyGram offers products and services under its two reporting segments; Global Funds Transfer, which is the core revenue generator, and Financial Paper Products. The Global Funds Transfer segment provides global money transfer services and bill payment services to consumers. The Financial Paper Products segment provides official check outsourcing services and money orders through financial institutions and agent locations.

MoneyGram shares were trading 14.07% higher at $3.81 at time of publication on Tuesday. The stock has a 52-week high of $6.7 and a 52-week low of $1.15.

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