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
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.