Green Dot (GDOT) Sees Notable Insider Buying, Shares Surge

November 8, 2012 2:59 PM EST
Beaten-down debit card provider Green Dot Corporation (Nasdaq: GDOT) jumped higher mid-day following some notable insider buying activity.

Chairman/CEO Steven W. Streit disclosed the purchase of 89,000 shares from 11/6-11/7 at $11.05-$11.32. In addition, Director Kendell Ross bought 1,500 shares on 11/6 at $10.95.

Shares of GDOT last traded at $11.87, up 6.7 percent. The stock has been under heavy pressure on lower earnings prospects and increased competition.

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