11 Best NASDAQ Penny Stocks To Buy Right Now

2. Marqeta, Inc. (NASDAQ:MQ) 

Number of Hedge Fund Holders: 33

Stock Price as of December 4: $3.84

Marqeta, Inc. (NASDAQ:MQ) is a leading innovator in the global payments industry, providing modern card issuing and payment processing solutions to companies and organizations around the world. The company provides a cloud-based, API platform for card issuing and transactions, allowing businesses to build and embed customized payment solutions directly into their applications. The company serves financial institutions, tech companies, and e-commerce businesses.

Marqeta, Inc. (NASDAQ:MQ) is focusing on expanding its global presence and enhancing its API offerings to capitalize on the growing demand for digital payments. Despite the recent regulatory hurdles, Marqeta, Inc. (NASDAQ:MQ) is poised to capitalize on the growing demand for embedded finance solutions. The company’s strong balance sheet, with $1.1 billion in net cash and virtually no debt, positions it to weather any short-term challenges and invest in its future.

Marqeta, Inc. (NASDAQ:MQ) is also expanding its product pipeline and increasing revenue. In Q3, Marqeta, Inc. (NASDAQ:MQ) reported an 18% year-over-year increase in revenue, with a gross profit margin of 70%. The company’s product pipeline includes new solutions such as Portfolio Migration, Marqeta Flex, and UX Toolkit. These new products will further enhance the company’s competitive position and drive growth in the embedded finance market.