From Nasdaq: 2025-06-17 17:11:00

Shares of Remitly Global (NASDAQ: RELY) closed 5.7% higher on Tuesday due to Senate revisions to the tax and budget bill being less burdensome than expected. The bill proposed a 3.5% excise tax on remittances, which could have impacted immigrants sending money home. Remitly’s strong first-quarter results show a 41% increase in send volume and a 34% revenue increase, with expected revenue growth of 25%-26% for the full year. Despite potential impacts from policy changes, the company is gaining market share and delivering steady growth.

Investors should monitor the bill’s progress, as any changes in remittance policy could affect Remitly. The company is performing well, with revenue and send volume increases, positioning itself for growth in the remittance market. While the Trump administration’s immigration policies have not impacted Remitly’s business, potential regulatory changes could affect the company’s future performance. Consider all factors before investing in Remitly Global, as other stocks may offer greater potential returns according to the Motley Fool Stock Advisor analyst team.



Read more at Nasdaq: Why Remitly Global Stock Finished Up Almost 6% Today