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 price increased following the announcement of better-than-expected Q1 sales results and the authorization of a new share repurchase program for up to $200 million of its Class A common stock.
May 08, 2024 | 10:07 am
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POSITIVE IMPACT
Marqeta's shares are trading higher due to positive Q1 sales results and a new share repurchase program.
Positive earnings reports typically lead to an increase in stock price as they indicate the company is performing well. Additionally, share repurchase programs are often viewed positively by investors as they can increase earnings per share and are a sign that the company believes its stock is undervalued.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100