MQ

Marqeta, Inc.

7.49
USD
-3.10%
7.49
USD
-3.10%
6.05 37.90
52 weeks
52 weeks

Mkt Cap 1.74B

Shares Out 232.49M

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Why This Has Been a Week to Forget for Marqeta

What happened Remember when fintech stocks were the darlings of the stock market? Lately, that's felt like a distant memory, an impression compounded by the latest news coming from Marqeta (NASDAQ: MQ). S&P Global Market Intelligence data shows that the next-generation payments processing company's shares have lost more than 21% of their value week to date as of Thursday night. So what It was certainly an eventful week for Marqeta, to put it mildly. On Wednesday after market hours, the company announced its second-quarter figures, and the immediate investor reaction was delight -- Marqeta beat the collective analyst estimates for the the top- and bottom-line results. That happiness didn't last long, however; in a tersely worded regulatory filing the next day, the company revealed that not one but two of its top executives were heading for the exit door. The man at the top of the ladder, CEO Jason Gardner, is stepping down and will take up the position of executive chairman of Marqeta's board once a successor is appointed. As if that weren't concerning enough, Gardner is the founder of the company. But wait, there was more! In the same filing, the fintech stock wrote that Vidya Peters resigned as its COO on Tuesday; her move is effective on the end of the day on Saturday, Sept. 3. Now what While no executive lasts forever, even in the best of companies at the best of times, the departure of two almost simultaneously is quite worrying. It doesn't help that Marqeta is being tight-lipped about the pair of moves, providing no reasons for either departure. It isn't surprising, then, that the twin exits are significantly overshadowing the rather positive developments packed into those second-quarter results. 10 stocks we like better than Marqeta, Inc. When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Marqeta, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of August 11, 2022 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Marqeta, Inc. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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