10 Firms Stayed Strong Amid Market Bloodbath

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1. Marqeta Inc. (NASDAQ:MQ)

Marqeta Inc. surged by 21.08 percent on Thursday to close at $4.25 apiece as investor sentiment was bolstered by its planned acquisition of TransactPay, which is expected to strengthen its foothold in the UK and Europe.

Founded in 2012, TransactPay currently operates in 25 countries, supporting 16 currencies, and is a principal member of Mastercard and Visa.

“Marqeta’s business has seen tremendous growth in Europe, and we’re excited to bring the strength and talent of TransactPay within Marqeta as we build on TransactPay’s success to date and further accelerate our offerings for customers globally,” said Marqeta CEO for Europe and UK Marcin Glogowski.

Meanwhile, MQ announced the resignation of Saman Khalaf as the company’s CEO while incumbent chief finance officer, Mike Milotich, has been appointed as interim CEO effective immediately. Khalaf also resigned as a member of the board.

While we acknowledge the potential of MQ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as MQ but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

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