What Happened?
A number of stocks fell in the afternoon session after President Trump declared the Iran ceasefire "over" and vowed to strike again, driving oil higher and bond yields up in a risk-off rotation.
Consumer internet companies (e-commerce, digital advertising, and platform businesses) are long-duration growth stocks whose valuations rest heavily on cash flows expected years into the future.
When crude spikes and inflation fears push government bond yields higher, as they did during the session, the discount rate applied to those distant earnings rises and high-multiple shares reprice lower. The business models are also cyclically exposed: advertising budgets and online discretionary purchases soften when consumers face higher energy bills and companies turn cautious.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Online Marketplace company ACV Auctions (NYSE: ACVA) fell 3.2%. Is now the time to buy ACV Auctions? Access our full analysis report here, it’s free.
- Gig Economy company Fiverr (NYSE: FVRR) fell 3.4%. Is now the time to buy Fiverr? Access our full analysis report here, it’s free.
- Financial Technology company Remitly (NASDAQ: RELY) fell 3.9%. Is now the time to buy Remitly? Access our full analysis report here, it’s free.
Zooming In On Remitly (RELY)
Remitly’s shares are quite volatile and have had 18 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 9 days ago when the stock gained 3.1% on the news that signs of renewed diplomatic talks between the U.S. and Iran boosted investor sentiment.
The broader market saw a significant uplift, as the S&P 500 attempted to break a five-day losing streak after a rare losing week. The Dow Jones Industrial Average and the tech-heavy Nasdaq composite also posted gains.
This widespread optimism often creates a 'risk-on' environment, where investors are more willing to buy stocks across various sectors, including technology and media. Big Tech stocks were noted as leaders in the recovery, as renewed confidence in the market's stability encouraged buying activity.
Remitly is up 75.8% since the beginning of the year, and at $23.24 per share, it is trading close to its 52-week high of $24.28 from May 2026. Investors who bought $1,000 worth of Remitly’s shares at the IPO in September 2021 would now be looking at an investment worth $479.59.
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