Why Remitly Global Inc. (RELY) Went Up On Thursday

We recently published a list of 10 Unexpected Market Movers—What Propelled Double-Digit Gains? In this article, we are going to take a look at where Remitly Global Inc. (NASDAQ:RELY) stands against other Thursday’s top-performing stocks.

The stock market extended its winning streak on Thursday as investors cheered President Donald Trump’s trade deal framework between the United States and the United Kingdom.

Among Wall Street’s major indices, the tech-heavy Nasdaq rallied the most, up 1.07 percent, followed by the Dow Jones, up 0.62 percent, and the S&P 500, gaining 0.58 percent.

According to Trump, the Oval Office outlined a trade deal framework. While a 10-percent baseline tariff will remain for imported goods from the UK, it could be the low end of deals with future countries.

“The final details are being written up,” Trump said. “In the coming weeks, we’ll have it all very conclusive.”

Beyond the major indices, 10 firms stood out, booking double-digit gains amid a flurry of fresh developments such as optimistic revenue guidance and impressive earnings performance, among others. In this article, let us explore Thursday’s 10 top-performing stocks and detail the reasons behind their gains.

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Remitly Global Inc. (NASDAQ:RELY)

Remitly Global grew its share prices by 14.56 percent on Thursday to close at $24.16 apiece as investors reacted positively to its strong earnings performance in the first quarter of the year.

During the period, Remitly Global Inc. (NASDAQ:RELY) swung to a net income of $11.35 million from a net loss of $21 million in the same period a year earlier.

Revenues also increased by 34 percent to $361 million from the $269 million registered year-on-year.

Further supporting the optimistic sentiment was the 29-percent increase in active customers alone, ending at 8 million versus the 6.2 million in the same comparable period.

“This performance was driven by the deep and growing trust our customers place in us to deliver a fast, reliable, and secure experience. As that trust continues to grow, so does our ability to scale efficiently and profitably,” said Remitly Global Inc. (NASDAQ:RELY) President and CEO Matt Oppenheimer.

Following the strong figures, the company raised its revenue outlook for the rest of the year, with revenues now expected to grow between 25 and 26 percent to $1.574 billion to $1.587 billion, as compared with the $1.565 billion to $1.580 billion targeted previously.

Overall, RELY ranks 9th on our list of Thursday’s top-performing stocks. While we acknowledge the potential of RELY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than RELY but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.