Why Shares of Marqeta Are Rising Today
Shares of card issuer Marqeta (NASDAQ: MQ) had risen more than 10% as of 12:05 a.m. ET after fintech stocks rebounded and the company announced a new partnership.
Fintech stocks have gotten hammered this month as signs of higher inflation and then the discovery of the omicron variant of the coronavirus hit the sector with a double whammy. Marqeta is down more than 30% over the last month.
Marqeta helps companies manage their card programs and makes money based on how much customers use its cards, so if there were to be a slowdown in the economy and less consumer spending, that would not bode well for the company.
Source Fool.com
