Strong Payrolls Data Sinks Coupang (CPNG) and Remitly (RELY) as 10-Year Yield Breaches 4.5%

On June 5, 2026, shares of Coupang and Remitly fell sharply after the May U.S. jobs report revealed 172,000 new payrolls, more than double the 80,000 consensus estimate. The data entrenched expectations that interest rates will stay elevated, pushing the 10-year Treasury yield above 4.5% and triggering a broad sell-off in high-multiple digital platforms. Remitly experienced volatile trading, consistent with its history of 18 swings of more than 5% over the past year. The drop was characterized as valuation-driven, not a reflection of business deterioration. The company recently reported strong fourth-quarter 2025 results, with revenue climbing 25.7% year-over-year to $442.2 million and GAAP earnings of $0.19 per share—well above the $0.01 analyst estimate—securing its first profitable full year. Forward guidance also topped expectations: first-quarter 2026 revenue of $437 million at the midpoint and full-year 2026 adjusted EBITDA of $350 million. Remitly stock ended the day at $18.93, 22% below its 52-week high of $24.28 reached in May 2026.