Marqeta shares plunge more than 20% on CEO exit and ‘cautious’ expectations for coming months

Shares of payment processor Marqeta closed down 24% on Thursday after founder Jason Gardner announced plans to step down as CEO, and the company said it’s being cautious given the challenges in the economy and fintech sector.

Gardner started Marqeta in 2010 and grew it into a company that was worth over $16 billion after its stock market debut last year. However, the…