GreenSky (GSKY) Stock Jumps 52%: It Is On Sale For $2.2 billion

Last Wednesday, GreenSky’s (GSKY) trading started at $ 8.36. On September 9, the price fell to $8.18, but recovered and traded at the same price. The worth fluctuated around this level before bouncing to $8.99 on Monday. The next day, it collapsed and fell from the highest price to the lowest of $7.68. As a result, GSKY lost 13% during one day.
Goldman Sachs agreed to buy GreenSky for $2.2 billion. Goldman plans to pay about $ 12 per share to the company GreenSky, which sells loans for consumer purchases such as construction projects or cosmetic surgery and works with a variety of vendors, from Home Depot to independent doctors and dentists. Its advantage is that its loans are cheaper and more reliable alternatives to credit cards. CEO of Goldman Sachs, David Solomon said to the WSJ that the deal will help the bank to advance in lending Main Street and build a real future banking platform. The price amounts to a 55% premium to GreenSky’s Tuesday closing price and includes a $445 million tax adjustment.

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