Report: MoneyGram's share price has recently risen or is related to Ripple's $50 million investment

According to Today's Gazette on July 25th, a report by Investors Observer showed that Moneygram International (MGI) has been in an upward trend in the market recently after experiencing a stock price decline. According to the analysis, this seems to be related to the $50 million transaction between MoneyGram and Ripple. The report said that although MGI's share price continued to hit a new low in the year, it showed a sharp rise in the day and week. On Wednesday, MGI shares rose 7.9%, and rose 23.5% in a week. According to Nasdaq, MGI shares also rose 9.17% today. However, the stock is still at a low level and has fallen by 61.4% in the past 12 months. The 1-year chart data shows that MGI reached its biggest decline during the year after it gained in late April. After hitting the bottom of $1.45 on June 17, the stock suddenly soared. After working with Ripple, its value rose to $3.88, and then MGI remained above $2, which made many people assert that it was Ripple XRP collaborates to form the results of a cross-border remittance giant. According to previous news, Ripple and MGI reached a partnership and are ready to invest $50 million. Of this, $30 million was used to acquire 8 to 10% of MGI's shares, and the remaining $20 million was invested in MGI in the next two years.