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Is PROG Holdings Headed for a Breakdown? By StockNews

by Mike Robinson

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© Reuters. PROG Holdings on the verge of a collapse?

PROG Holdings Inc.’s chart (PRG) shows a level of support. Over the last few months, it has crossed that support level multiple times and is currently heading down. It is possible for the stock to fall below this support level. You can read more for information on how to profit from this trade. PROG Holdings Inc., (PRG), is an online provider of lease-purchase options through more than 35,000 retail locations across 46 US states and DC. Two segments of the firm are Progressive Leasing (NYSE:) and Vive Financial.

Due to the expansion of large national accounts, and greater penetration on e-commerce, the company enjoyed a strong second quarter. The gross merchandise value of their Progressive Leasing segment increased 25.2% over last year.

PRG has also acquired Four Technologies (a Miami-based company offering buy now, pay later) which allows shoppers to pay merchandise in four installments.

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