Professional
Added to YB: 2025-03-13
Pitch date: 2025-03-11
RELY [bearish]
Remitly Global, Inc.
+21.39%
current return
Author Info
Spruce Point Capital Management is an activist investment manager specializing in forensic short-selling. Sign up for the newsletter.
Company Info
Remitly Global, Inc. engages in the provision of digital financial services in the United States, Canada, and internationally.
Market Cap
$4.6B
Pitch Price
$20.62
Price Target
9.00 (-44%)
Dividend
N/A
EV/EBITDA
328.53
P/E
-870.51
EV/Sales
3.08
Sector
Financial Services
Category
N/A
Spruce Point Capital Management Issues 'Strong Sell' Research Opinion On Remitly Global, Inc. (Nasdaq: RELY)
RELY (short): Cross-border remittance co faces trust issues w/ inauthentic reviews, US immigration risks (65% rev), crypto disruption. Growth levers limited, financials worsening. Transparency concerns, exec departures, material weaknesses. Trades at premium to peers despite risks. PT $9-12 (40-55% downside).
Read full article (6 min)