Why Remitly Global Slipped 16% in November
Shares of Remitly Global (NASDAQ: RELY) were pulling back last month due to a post-earnings sell-off in the digital remittance specialist, in spite of generally solid results.
The report was overshadowed by its forecast calling for slowing growth and concerns about rising credit risk, in part due to a weakening economy in the U.S.
The stock hit a 52-week low during the month and finished down 16%, according to data from S&P Global Market Intelligence. As you can see from the chart below, Remitly plunged early in the month following its earnings report, but recouped some of those losses in the last few days of November.
Source Fool.com
