Why Marqeta Stock Fell Hard Today

Shares of Marqeta (NASDAQ: MQ) were tumbling this morning after the payments processing company reported its second-quarter results. While those results beat analysts' top- and bottom-line estimates, investors instead worried about Marqeta's announcement that it's looking for a new CEO. 

The fintech stock was down by 23.7% as of 11:12 a.m. ET. 

Marqeta reported a non-GAAP (adjusted) loss per share of $0.08 in the quarter, which was a huge improvement over the loss per share of $0.29 in the year-ago quarter and ahead of analysts' average estimate of a loss of $0.10. 

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Source Fool.com