Sumary of Why GreenSky Stock Soared 53% Today:
- What happened Shares of GreenSky (NASDAQ:GSKY) surged 53.2% on Wednesday after the specialty lender agreed to be acquired by Goldman Sachs (NYSE:GS).
- GreenSky struck a deal with financial services powerhouse Goldman Sachs.
- Investors will receive 0.03 shares of Goldman Sachs’ stock for each share of GreenSky they own.
- “In combination with Goldman Sachs, we’re excited to continue delivering innovative point-of-sale payment solutions for our merchant partners and their customers on an accelerated basis,” GreenSky CEO David Zalik said in a press release.
- By acquiring GreenSky, Goldman Sachs is making an aggressive move into the popular “buy now, pay later” space.
- Goldman has invested heavily in recent years to expand its Marcus consumer finance business, which the company views as a key complement to its core investment banking and wealth management operations.