Jim Cramer Put These 17 Stocks Under the Spotlight

13. Remitly Global, Inc. (NASDAQ:RELY)

Number of Hedge Fund Holders: 39

Remitly Global, Inc. (NASDAQ:RELY) is one of the stocks Jim Cramer put under the spotlight. During the lightning round, a caller asked for Cramer’s opinion on the stock, and he commented:

“Well, that’s to remit, for immigrants to be able to remit money, and I think that it’s a very challenged group right now, and I don’t think you want to be there. I’d rather just be in the traditional bank.”

Remitly Global, Inc. (NASDAQ:RELY) provides digital financial services that enable cross-border money transfers and related solutions through its mobile app and website. Night Watch Investment Management stated the following regarding Remitly Global, Inc. (NASDAQ:RELY) in its Q2 2025 investor letter:

“We follow a diverse set of industries and are able to rapidly reposition in case an external factor such as politics changes the winners and the losers. The proposed tariffs, as well as the tax legislation that is currently being negotiated by the US Senate, will impact some industries and we have repositioned accordingly.

As an example, a potential loser from changes to the remittance tax is Remitly Global, Inc. (NASDAQ:RELY). As a provider of digital remittance services, which helps immigrants send money back to their home country, RELY is largely exposed to documented immigrants. After all, you need a bank account in order to transact with them. The new tax legislation proposed a 3.5% remittance tax on all non-citizens, including legal immigrants. Even though it is likely that exceptions will be made for legal residents, this can still severely impair RELY’s business, so we sold our entire position in RELY.”