Out Fox The $treet

The stock action in Green Dot Corporation ( GDOT ) isn't exactly matching the recent results of the company suggesting that investors are placing a large bet on the GoBank and check cashing initiatives. The actual results haven't improved much over last year, but the general perception has been they were better than expected after facing an onslaught of new competition in its market leading prepaid card segment. Green Dot is focused on providing affordable banking for the masses. Its primary product is a reloadable prepaid debit card that is available at more than 60,000 retail stores nationwide and online. It has several new initiatives including the recently launched GoBank, Project Outreach and another wave of retailers expanding the retail locations by another 20,000 stores. Read the full article at Seeking Alpha. Disclosure: No positions mentioned. Please review the disclaimer page for more details. 

The summary of the Green Dot (NYSE: GDOT ) Q1 2013 earnings report had to be that the company was shaking off the increased competition in the prepaid debit card arena. The long-term market leader famously plunged 50%% back in July of last year after forecasting that earnings would be greatly impacted by increased competition primarily from the Bluebird Card via American Express (NYSE: AMX ) at Wal-Mart stores. Ironically, the leading more » Disclosure: No positions mentioned. Please review the disclaimer page for more details.