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Why Remitly (RELY) Shares Are Falling Today

What Happened? Shares of online money transfer platform Remitly (NASDAQ:RELY) fell 23.2% in the morning session after the company reported mixed third-quarter results, with its forecast for the upcoming quarter falling short of expectations. Although the online money transfer platform announced better-than-expected revenue for the third quarter, which grew 24.7% from the previous year, its outlook weighed on the stock. The company's revenue guidance for the next quarter was approximately $427 million, wh ...