REMITLY STOCK PLUNGES 24% AS TRUMP IMMIGRATION CRACKDOWN CHOKES MEXICO REMITTANCES
Remitly shares fell about 24% after earnings as management guided to slower growth and cited “recent immigration headwinds” in the U.S. and Canada. The company’s core Mexico corridor is facing a broader industry decline in remittances amid stepped-up U.S. immigration enforcement, which may be dampening transfer volumes and new-customer acquisition. Analysts flagged the CFO’s limited explanation for the slowdown as adding uncertainty. Despite product momentum, Remitly now expects 2026 growth in the high teens, down from 24%–34% in prior quarters.
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