BUZZ-Green Dot Corp: Checking account product at Wal-Mart

Wed Sep 24, 2014 10:18am EDT
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** Debit card provider's shares up about 12 pct at $21.01 in early trading

** Stock top gainer on NYSE

** Company launches GoBank, a checking account product, exclusively at Wal-Mart Stores Inc

** Checking account provides a linked MasterCard debit card and does not charge overdraft fees, minimum balance fees or monthly fees with qualifying direct deposits

** Green Dot CEO Steve Streit said last week that the company will "announce the launch of a major new program" that "can have a positive impact on our performance in the remainder of 2014"

** Shares of company had lost about 17.5 pct of their value since the beginning of the year

** About 168,000 shares traded by 10:14 ET, more than double their 10-day moving average volume