Discover Financial Services Surges to 138th in Trading Volume Despite 8.34% Stock Drop

On April 3, 2025, Discover Financial Services (DFS) saw a significant increase in trading volume, with a total of $9.94 billion in shares traded, marking a 178.42% rise from the previous day. This surge placed Discover at the 138th position in terms of trading volume for the day. However, despite the high trading volume, the stock price of Discover Financial Services (DFS) fell by 8.34%.

The U.S. Department of Justice has given its approval for Capital One Financial Corp's proposed $35 billion acquisition of Discover Financial Services. This clearance removes a major regulatory hurdle for the merger, which was announced in February 2024. The deal, if completed, would create the largest U.S. credit card issuer by balances and the sixth-largest bank by assets. Additionally, Capital One would gain control over Discover’s payment network, the fourth-largest in the U.S.

While the DOJ's approval is a significant step forward, the merger is still subject to further review by the Office of the Comptroller of the Currency and the Federal Reserve, with input from the DOJ. Capital One has expressed confidence that the deal complies with the Bank Merger Act’s legal requirements and expects to secure full approval.