MoneyGram not done selling off

|About: MoneyGram International, ... (MGI)|By:, SA News Editor

Don't buy the dip in MoneyGram (MGI -13.1%), advises JMP Securities

The view from the investment firm is that close to a third of the payment services company's pre-tax earnings are at risk due to Wal-Mart's new money transfer service.

Shares of MGI are tracking toward recording a second consecutive double-digit decline.