Reported about 21 hours ago
Remitly Global, Inc. (NASDAQ: RELY) experienced a 5.68% rise in share price to $20.64 after the US Senate proposed changes to eliminate taxes on remittances, which raised optimism for increased digital money transfers. This follows a previously proposed 3.5% tax under the 'One Big, Beautiful Bill Act' that would have burdened immigrants sending money home. Remitly also reported a turnaround to a net income of $11.35 million for the first quarter, alongside a 34% increase in revenue.
Source: YAHOO