Business

Marqeta stock plunges as first-quarter forecast falls short of expectations


Shares of payment technology provider Marqeta Inc. MQ fell sharply after hours on Tuesday after the company forecast sales growth for the first quarter that was slightly below estimates. The company, whose technology helps enable online card payments for customers, apps and merchants, said it expects first-quarter sales growth of 26% to 28%. That compares with FactSet expectations of around 29%. Shares fell 18.5% after hours on Tuesday. The company considered DoorDash Inc. DASH and Block Inc. SQ is the customer. Fourth quarter results were better than expected. The company reported a fourth-quarter net loss of $26.3…

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