Even Though It's Down 70%, I'm Not Selling Marqeta
Stocks have gotten off to a lackluster start in 2022, with the S&P 500 down almost 12% at Friday's close. Growth stocks have gotten beaten up, and companies that have yet to turn a profit have been even worse off.
One such company is Marqeta (NASDAQ: MQ), down 70% from its 52-week high. It's still in the early stages of growth and hasn't posted a profitable quarter since going public. As a result, its stock has gotten punished amid volatile market conditions.
Even though it's down big, I'm still not selling Marqeta. Marqeta's customizable payment cards are helping banks and other companies in the e-commerce space prevent fraud and unlock flexibility in innovative ways. It's done a stellar job -- and its recent earnings release proves it.
Source Fool.com
