Stock Track | Marqeta Stock Surges 7.4% on Rebound Amid Regulatory Concerns

Stock Track11-07

Marqeta, Inc. (MQ), a leading financial technology company, witnessed a significant surge of 7.4% in its stock price on November 6, 2024, following a roller-coaster ride earlier in the week due to concerns over heightened regulatory scrutiny impacting its banking partners and customer programs.

On Tuesday, November 5th, Marqeta's stock price plummeted over 40% as the company slashed its fourth-quarter guidance, citing "heightened scrutiny of the banking environment and specific customer program changes" as key factors behind the reduced outlook. The company now expects Q4 revenue growth of just 10% to 12%, down significantly from its previous forecast of 16% to 18%. Gross profit growth guidance was also cut to 13% to 15%, well below the prior estimate of around 25% to 27%.

However, on November 6th, Marqeta's shares staged a remarkable recovery, soaring 7.4% in pre-market trading. This rebound came despite at least eight brokerages cutting their price targets on the stock following the disappointing earnings report. Broader market movements, such as the U.S. financial firms' stocks gaining after the U.S. presidential election results, may have also contributed to Marqeta's recovery.

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(MQ), a leading financial technology company, witnessed a significant surge of 7.4% in its stock price on November 6, 2024, following a roller-coaster ride earlier in the week due to concerns over heightened regulatory scrutiny impacting its banking partners and customer programs.</p>\n\n<p>On Tuesday, November 5th, Marqeta's stock price plummeted over 40% as the company slashed its fourth-quarter guidance, citing \"heightened scrutiny of the banking environment and specific customer program changes\" as key factors behind the reduced outlook. The company now expects Q4 revenue growth of just 10% to 12%, down significantly from its previous forecast of 16% to 18%. Gross profit growth guidance was also cut to 13% to 15%, well below the prior estimate of around 25% to 27%.</p>\n\n<p>However, on November 6th, Marqeta's shares staged a remarkable recovery, soaring 7.4% in pre-market trading. 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(MQ), a leading financial technology company, witnessed a significant surge of 7.4% in its stock price on November 6, 2024, following a roller-coaster ride earlier in the week due to ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MQ","symbol_name":"Marqeta, Inc.","start_time":0,"source_url":"","article_id":"1186977430","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1186977430","pubTimestamp":1730913916,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Marqeta, Inc. , a leading financial technology company, witnessed a significant surge of 7.4% in its stock price on November 6, 2024, following a roller-coaster ride earlier in the week due to concerns over heightened regulatory scrutiny impacting its banking partners and customer programs.On Tuesday, November 5th, Marqeta's stock price plummeted over 40% as the company slashed its fourth-quarter guidance, citing \"heightened scrutiny of the banking environment and specific customer program chang","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MQ":"Marqeta, Inc."},"translate_title":"由于监管担忧，Marqeta股价反弹，飙升7.4%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MQ":1},"content_text":"Marqeta, Inc. 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