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NextCard Plunges After Setting Plans to Sell Company




plunged more than 78% to $1.15 on the Nasdaq after posting a third-quarter loss of $1 a share and disclosing plans to find a buyer for the company.

The company also withdrew its guidance for the fourth quarter, 2002, and 2003.

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The online credit provider said Wednesday that it hired Goldman Sachs to explore opportunities to sell the company to a more established financial institution.