Dave pullback an opportunity for investors to add to stock, Benchmark says

Dave

02/01/2025 19:27

** Benchmark says the recent pullback in shares of the Mark
Cuban-backed digital banking firm Dave  DAVE.O  is an
opportunity for investors to either increase their holdings or
initiate new positions in the stock
    ** DAVE stock fell 8% on Tuesday after the U.S. Justice
Department filed a complaint and announced a civil enforcement
action against the company and its CEO, Jason Wilk, for alleged
violations of federal law
    ** Company earlier this week said that many of the claims
were incorrect and it plans to defend itself      
    ** The DOJ lawsuit can be viewed as an 11th-hour action by
outgoing staff that "may prove out of sync with the approaches
and priorities of their successors" - brokerage
    ** Benchmark adds that the incoming Trump administration is
likely to interpret the issues at hand in the case through a
much more business-friendly lens         
    ** DAVE stock soared 936.6% in 2024


 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))