Shares of card issuing fintech platform Marqeta (NASDAQ: MQ) rose 12.6% during May, according to data from S&P Global Market Intelligence.
Marqeta had been caught up in this year's growth tech stock sell-off, which decimated just about every stock that wasn't producing current profits; however, Marqeta reminded investors why they liked it so much in the first place, after reporting another strong quarter of revenue growth. An analyst upgrade followed, and Marqeta continued to sign up new prominent customers to close out the month.
In the first quarter, Marqeta recorded 54% revenue growth to $166.1 million, ahead of analyst estimates. While its net loss per share of ($0.11) missed slightly on increased investments, the growth figure seemed to outweigh concern over increased costs as investors bid up the stock following the report.
Source Fool.com