Discover Financial Services has watched its stock price drop in its first week of trading, in stark contrast to the performance of one of its primary competitors.
Discover (NYSE: DFS) went public on Monday with an initial share price of $29. Since then, it’s been downhill, as the U.S.’s #4 credit card company saw traders send its share price down to $25.50 in early trading Friday. Investment banking firm Morgan Stanley spun off Discover after owning the credit card issuer and transaction network for 10 years.
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