Marqeta shares are trading higher after the company reported better-than-expected Q1 sales results. The company authorized a new share repurchase program for up to $200 million of its Class A common stock.
Portfolio Pulse from Benzinga Newsdesk
Marqeta's stock is trading higher following the announcement of better-than-expected Q1 sales results and the authorization of a new $200 million share repurchase program for its Class A common stock.
May 07, 2024 | 9:58 pm
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POSITIVE IMPACT
Marqeta's shares are up after reporting strong Q1 sales and announcing a $200 million share buyback program.
The positive earnings report and the share repurchase program announcement are likely to boost investor confidence in Marqeta, leading to a short-term increase in its stock price. The repurchase program signals the company's belief in its own undervalued shares, which can be seen as a positive indicator by the market.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100