12 Best Penny Stocks to Invest in According to the Media

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2. Marqeta, Inc. (NASDAQ:MQ)

Share Price (As of January 3): $3.86

Number of Hedge Fund Holders: 33

Marqeta, Inc. (NASDAQ:MQ) is an innovative card issuer that empowers businesses to issue and process virtual, physical, and tokenized credit and debit cards. The company offers a modern cloud-based open application programming interface platform for card issuing and transaction processing. The company operates two business segments: Managed By Marqeta and Powered By Marqeta. The company’s major clients include platforms such as Square, DoorDash, and Instacart. Marqeta also offers Buy Now Pay Later (BNPL), neobanking, on-demand delivery, expense management as well as crypto payment solutions.

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

Marqeta, Inc. (NASDAQ:MQ) is focused on reducing complexity and minimizing disruption to attract more clients. During the third quarter, the company completed the migration of millions of Klarna cards across Sweden, Germany, and the U.K., marking significant progress in the global market. The Block contract renewal was another major development in the past quarter.

The company’s latest product Marqeta Flex is set to launch in mid-2025 and the company is currently working on gaining interest from customers and partners to scale this new service. Marqeta Flex will integrate BNPL payment options directly into payment apps and wallets. To support its BNPL payment network, Marqeta is working in collaboration with well-known BNPL providers including Klarna, Affirm, and Branch.

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