Why Marqeta Stock Is Soaring 26% This Week

Shares of Marqeta (NASDAQ: MQ) are soaring 25% higher this week, according to data provided by S&P Global Market Intelligence, after the "modern card" issuing platform signed important new deals with the freight division of Uber Technologies (NYSE: UBER) and with fintech stock Bill.com Holdings (NYSE: BILL).

The agreements come after Marqueta made a big splash in the world of cryptocurrency last week, inking deals with crypto businesses like Shakepay, Fold, and Coinbase Global (NASDAQ: COIN) to create cards through Visa specifically for crypto users to spend their alt coins wherever Visa is accepted.

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Source Fool.com