Stock Watch: Nextcard Soars On Deal

Shares of online credit card company Nextcard (Nasdaq: NXCD) climbed nearly 30 percent on Wednesday, rising 9-3/8 to 41 after the company announced a five-year agreement with Under the terms of the deal, the companies will issue a joint credit card. Shares of Amazon gained 1 3/16 to 72 on Wednesday.

The deal seems like a natural fit for Nextcard, clearly the online credit-card leader, and, the top e-commerce site. is expected to generate about $150 million in revenues from the deal, but the bigger winner might actually be Nextcard, which can now tap into’s base of more than 13 million customers. After the news was announced, Donaldson, Lufkin & Jenrette reiterated its buy rating and $70 price target on Nextcard.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

Elon Musk's Dec. 2 action to release The Twitter Files: Approve or Disapprove?
Loading ... Loading ...

E-Commerce Times Channels