Shares of Marqeta Inc. surged on Monday, extending gains into the regular session as trading volume more than doubled the 30-day average.
The card-issuing platform’s stock rose 6% to $3.25 by 11:45 a.m. ET, following a 10% jump in pre-market trading. The move lacked an immediately identifiable catalyst, as company-specific news or regulatory filings were not released in the prior session.
Marqeta’s trading volume reached approximately 15 million shares by mid-morning, compared with its 30-day average of roughly 7 million, according to data from Bloomberg. The spike in activity suggested heightened investor interest, though the absence of a clear driver left analysts cautious on attributing the rally to fundamentals.
The company, which provides infrastructure for digital payments and card issuance, has faced challenges in recent quarters, including a slowdown in transaction volumes and heightened competition in the fintech space. Its shares remain down about 60% from a year ago, reflecting broader pressures in the payments sector.
Brokerage firms have maintained mixed ratings on Marqeta, with price targets ranging from $2.50 to $5.50. The stock’s recent volatility underscores ongoing uncertainty in the payments industry amid shifting consumer spending patterns and regulatory scrutiny.
Marqeta is scheduled to report its next quarterly earnings on May 8.
