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Why GreenBox POS Stock Surged on Tuesday

Evan Niu, CFA, The Motley Fool
·2 min read
Why GreenBox POS Stock Surged on Tuesday

Shares of GreenBox POS (NASDAQ: GBOX) surged as much as 20% on Tuesday morning after the company significantly boosted its guidance for payment processing volumes this year. The fintech company, which offers blockchain-based payment services, now expects to process $1.2 billion in payments in 2021, or twice as much as GreenBox's initial outlook of $600 million. Payment processing volumes in the first quarter have been much higher than expected, leading to the increased forecast for the year.

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