Why Marqeta Stock Was Up Monday
Marqeta (NASDAQ: MQ) came out hot on Monday, as the stock price soared as high as 8% in the morning session. As of 12:22 p.m. ET, it was up roughly 6.3% to $6.91 per share. The stock price is still down about 60% year to date.
It was a good start to the week for the major indexes, which were all up sharply on Monday morning, with the Nasdaq leading the way, up 3.2% as of 12:22 p.m. ET. The S&P 500 was up 2.5%, while the Dow Jones Industrial Average was up over 500 points, or 1.7%.
Marqeta is a fintech company that provides a platform and the digital infrastructure on which its customers can create and issue their own payment cards, as well as authorize and settle transactions. Its largest customer is Block (NYSE: SQ), as it provides the infrastructure for its virtual debit card.
Source Fool.com
