10 Stocks That Led Tuesday’s Charge

4. Marqeta Inc. (NASDAQ:MQ)

Marqeta Inc. extended its winning streak for a sixth consecutive day on Tuesday, adding 4.40 percent to finish at $4.51 each as investors continued to gobble up shares after the company bagged a new deal to become the issuer processor for Spendesk Financial Services in Europe.

Spendesk is a spend management platform that helps businesses manage employee expenses, automate invoice management, and track spending features, among others.

Under the agreement, Spendesk would integrate MQ’s card processing services into its core banking platform, giving Spendesk’s customers both physical and virtual cards and enhancing B2B spend management with controls that let them screen and approve expenses in real-time.

The partnership aims to take advantage of the growing recognition of virtual cards which are now becoming the go-to payment mode of businesses with annual sales of $50 million to $1 billion.

According to research by PYMNTS Intelligence late last year, 56 percent of business executives who use virtual cards for their business purchases have seen improvements in their working capital management.