Why Shares of Remitly Global Stock Shot Up This Week

Shares of Remitly Global (NASDAQ: RELY) shot up over 10% this week, according to data from S&P Global Market Intelligence. The remittance provider hosted an Investor Day that covered its long-term goals and financial guidance, impressing Wall Street. Management is calling for strong revenue growth and margin expansion through 2028. As of this writing at 12:46 PM EST on Friday, December 12, Remitly Global stock is up 10.4% this week. Here's why. Beginning over a decade ago, Remitly built itself up as a remittance provider for individuals looking to send money from the United States to India, Mexico, and the Philippines. From there, it steadily expanded to more and more country corridors for international money transfer services, while simultaneously lowering its costs, speeding up transfer times, and improving product functionality. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool