Why You Should Retain Green Dot Stock in Your Portfolio for Now

Green Dot Corporation (NYSE: GDOT) is currently focusing on long-term growth through prepaid cards, BaaS partnerships, and a strong balance sheet amid some challenges, including a decrease in customers and the end of partnerships in its traditional consumer division and its Banking-as-a-Service (BaaS) sector.

Factors That Bode Well

Green Dot remains focused on ensuring the long-term growth of its businesses. The company's efforts are toward the acquisition of long-term users by issuing prepaid cards both under its brand, sold in stores, and through co-branded cards like the Walmart Money Card.

Green Dot Corporation Revenue

Green Dot Corporation revenue-ttm | Green Dot Corporation Quote

In addition to its core offerings like prepaid cards and tax processing services, Green Dot utilizes its technology and FDIC-insured banking license to provide "Banking-as-a-Service." This essentially involves Green Dot offering white-label banking products to large corporations such as Walmart, Uber, and Apple.

In return for delivering these financial products, the company gains access to a ...