Enova's Acquisition Boosts Stock, Market Sentiment
Update: 2025-12-12
Description
Enova Internationals stock surged over thirteen percent following the announcement of its acquisition of Grasshopper Bancorp, a digital bank, for approximately three hundred and sixty-nine million dollars. This deal aims to merge Enovas online lending with Grasshoppers digital banking services, potentially boosting Enovas adjusted earnings per share by over twenty-five percent. The transaction is expected to finalize in the second half of 2026, pending approvals. The markets positive reaction, along with comments from the New York Federal Reserve President suggesting a potential interest rate cut, contributed to the significant stock jump.
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