The Trump administration appealed a judge’s order that permanently blocked the president’s effort to deploy National Guard troops to Portland, Oregon, to counter protests against his immigration crackdown https://t.co/7LmdcF8YUI ...

Core Viewpoint - Remitly, a financial technology company specializing in money transfers, is experiencing significant stock price decline despite its market share growth since its founding in 2011, largely due to external factors such as immigration policies and market uncertainties [1][4]. Financial Performance - Remitly reported a 24% drop in stock price following its third quarter financial results, reducing its market value to $2.6 billion [2]. - The company anticipates fourth quarter revenue of approximately $427 million, reflecting a growth rate of about 22%, which is a decline from previous quarterly growth rates of 24% to 34% [3]. - Adjusted EBITDA metrics indicate a slight decrease in profits for the third quarter compared to the second quarter [3]. Market Dynamics - Remitly has 8.9 million active customers who collectively send around $20 billion each quarter, with Mexico being a primary destination for remittances [5]. - Consumer remittance payments to Mexico have decreased by 5.5% to $45.7 billion in the first nine months of the year, reversing a long-term growth trend due to immigration policy changes [5]. - The U.S. immigrant population has begun to decline for the first time in 50 years, which may impact new customer acquisition for Remitly [6]. Investor Sentiment - The lack of clarity regarding the reasons for the expected slowdown in growth has contributed to investor concerns, leading to a significant stock price drop [8]. - Analysts have noted that the third quarter earnings release raises more questions than it answers, indicating uncertainty in the company's future performance [8].