J Capital Research is short Marqeta, says FBI probe could mean 70% biz loss

In a recently published report, J Capital Research says it is short Marqeta (MQ) because it thinks an FBI investigation could prompt the company to lose up to 70% of its business. “Future revenue looks weak for this ‘dinosaur’ of a payments-processing company,” J Capital adds. “We have discovered an FBI investigation into MQ’s partner, Sutton Bank, likely for alleged anti-money laundering (AML) failures. MQ’s biggest client is Cash App, which has been credibly alleged to enable lawbreaking. Those allegations have brought intense regulatory pressure to the tiny Ohio bank on which MQ depends for its processing of Cash App transactions,” the report explains. J Capital thinks expectations will be disappointed in Q2 or FY2025.