Remitly Global (RELY) shares face a 40% to 55% potential long-term downside risk, according to a Tuesday report from short seller Spruce Point Capital Management.
Spruce Point said it believes Remitly is "facing numerous short- and long-term disruption risks," including the potential deportation of US immigrants cutting into one of its largest revenue sources and the growing adoption of cryptocurrency to facilitate payments.
Remitly did not immediately reply to a request for comment from MT Newswires.
Remitly shares were 1.3% higher in recent trading.
Price: 20.31, Change: +0.23, Percent Change: +1.12
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