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Deutsche Bank and JPMorgan both pile on to the Green Dot (GDOT -60%) party-bashing, cutting the...
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Friday, July 27, 2012, 3:23 PM ETDeutsche Bank and JPMorgan both pile on to the Green Dot (GDOT -60%) party-bashing, cutting the shares respectively to Hold and Neutral amid a gloomy forecast by the company on the prepaid market. Deutsche says the company's model has "broken down," in the face of increased competition and greater risk/compliance costs, while JPMorgan calls into question management's credibility in the face of such a significant cut to numbers.
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