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Motley Fool

Why Marqeta, Affirm, and Lemonade Soared Today

Shares of high-growth fintech firms Marqeta (NASDAQ: MQ), Affirm (NASDAQ: AFRM), and Lemonade (NYSE: LMND) were rallying today, up 4.8%, 5.4%, and 8.3%, respectively, as of 3:30 p.m. EDT. The rally in these newly public financial technology stocks wasn’t so much from news out of their own businesses, but rather the stodgy old Wall Street banks they are looking to disrupt. Marqeta is a tech platform for card issuing, which actually helps companies like Affirm seamlessly manage the intricacies of buy now, pay later, as well as a host of other fintech applications requiring real-time card monitoring and rewards.

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