Core Insights - Remitly's shares dropped 23.2% following the release of mixed third-quarter results and a disappointing forecast for the upcoming quarter [1][2] - The company reported a revenue increase of 24.7% year-over-year, but its revenue guidance of approximately $427 million for the next quarter fell short of analysts' expectations [2] - Concerns about future performance overshadowed the solid results of the recent quarter, leading to a negative market reaction [2] Financial Performance - Remitly's third-quarter revenue was better than expected, growing 24.7% from the previous year [2] - The company's guidance for adjusted EBITDA also did not meet Wall Street's projections, contributing to the stock's decline [2] - Year-to-date, Remitly's stock has decreased by 44.6%, trading at $12.41 per share, which is 54.3% below its 52-week high of $27.14 [6] Market Reaction - The stock has shown volatility, with 11 moves greater than 5% over the last year, indicating significant market impact from recent news [4] - The previous notable stock movement occurred three days prior, when shares gained 3.1% in anticipation of the third-quarter earnings report [5] - The market's perception of Remitly has been significantly affected by the recent news, suggesting a cautious outlook among investors [4]