Added to YB: 2024-04-05
Pitch date: 2024-04-04
MQ [bearish]
Marqeta, Inc.
+15.84%
current return
Author Info
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Company Info
Marqeta, Inc. operates a cloud-based open API platform for card issuing and transaction processing services.
Market Cap
$2.3B
Pitch Price
$5.87
Price Target
N/A
Dividend
N/A
EV/EBITDA
40.03
P/E
45.12
EV/Sales
2.42
Sector
Financial Services
Category
Problems at Marqeta - $MQ
MQ: Marqeta's share price at risk as regulators probe largest customer Block (Cash App) for alleged criminal ties. Marqeta processes payments for Cash App, preferred by child porn distributor recently arrested. Whistleblowers allege lax KYC at Cash App enables money laundering & crime. Partner bank Sutton also under scrutiny. Despite this, Cash App keeps pushing flashy new cards as execs flee both firms.
Read full article (8 min)