Remitly Director Sells Over 40,000 Shares as Stock Trades Near Bottom of Range

Remitly Director Joshua Hug made this sale of 40,776 shares close to the stock's 52-week low of about $12. The timing is particularly noteworthy given Remitly's challenging year. The stock has declined roughly 39% over the past 12 months, and shares were trading in the lower half of their 52-week range when Hug executed this transaction. When directors sell during a prolonged slump, it raises questions about their confidence in a near-term recovery.Remitly operates at scale in the digital remittance sector, ...