Remitly Global's Shift to Higher Engagement Products Drives Growth and Valuation Story

Remitly Global has reported rapid adoption of its new products, Remitly Flex and Remitly Wallet, which are leading to higher user engagement and opening additional revenue streams beyond core remittances. These products are more profitable than traditional services, shifting the company's business mix. The stock price has declined 48.8% over the past year but is still up 8.0% over three years. Investors are now focusing on how this product suite could reshape the company and affect its valuation.