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MoneyGram Posting Steep Loss In Afternoon Trading

Shares of MoneyGram (MGI) are seeing significant weakness in afternoon trading on Wednesday, slumping by 9.4 percent. Earlier in the session, MoneyGram hit an eleven-month intraday low.

The steep drop by MoneyGram comes after Alibaba's (BABA) Ant Financial Services affiliate terminated its agreement to acquire the payment services company.

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