1 Reason to Buy and 1 Reason to Avoid This Fintech Up 83% From Its 52-Week Low
Many growth stocks struggled in 2022 as the Federal Reserve aggressively hiked interest rates in an effort to reduce outsized inflation. In 2023, inflation is coming back under control and many big-name tech stocks are showing clear signs of recovery. But some fintech companies haven't been as fortunate. Marqeta (NASDAQ: MQ) for example, has seen its stock price fall 83% from its October 2021 peak of $37.90.
One criticism of Marqeta is its overreliance on a single customer for most of its revenue. Investors concerned about whether or not it would extend the contract just got good news on this front. The news has helped the stock jump 83% from its 52-week low in April of this year, but the company still has some work to do.
If you're considering investing in Marqeta stock, here is one reason why you should buy it and one reason why you should avoid it.
Source Fool.com
