Marqeta gains on up to $100 mln stock buyback plan

Marqeta

15/09/2022 13:59

** Shares of payments co Marqeta Inc  MQ.O  up 2% at $8.02
    ** Co announces share buyback plan of up to $100 mln to
boost ailing stock price  urn:newsml:reuters.com:*:nBw8DwDyza
    ** "We do not believe our current valuation reflects our
performance or our long-term market opportunity" - CEO Jason
Gardner
    ** MQ has lost more than half of its value this year and
currently has a market capitalization of over $4.3 bln,
according to Refinitiv
    ** MQ was valued at $17 bln in its stock debut in June last
year (https://reut.rs/3BIGscB)

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))