We recently compiled a list of the 10 Firms Stayed Strong Amid Market Bloodbath. In this article, we are going to take a look at where Marqeta, Inc. (NASDAQ:MQ) stands against the other stocks.

The stock market ended in a bloodbath on Thursday, with all major indices finishing in the red, as investors turned cautious anew over President Donald Trump’s tariff imposition on goods from more countries.

The Dow Jones dropped by 0.45 percent, while the S&P declined 1.59 percent. Nasdaq, on the other hand, lost 2.78 percent.

On Thursday, Trump threatened to slap EU products with a 25-percent tariff, following his announcement on Wednesday of another month of delay for the imposition of taxes on goods from Mexico and Canada.

Meanwhile, ten companies defied broader market pessimism, posting strong gains during the day.

To come up with Thursday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A financial services team at work reviewing customer data on their digital bank.

Marqeta, Inc. (NASDAQ:MQ)

Marqeta, Inc. (NASDAQ:MQ) 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, Marqeta, Inc. (NASDAQ: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.

Overall MQ ranks 1st on our list of Thursday's top gainers. 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.

 

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Disclosure: None. This article is originally published at Insider Monkey.