Sea Limited (NYSE: SE) has been a problem child for investors over the last two years as evidenced by the 88% decline in the stock price from its peak of $367. Investors are concerned about whether Shopee can be a profitable business long term and whether Garena can stem the decline in its revenue. While these concerns are real, Sea delivered an encouraging third consecutive quarter of net profits.
In the latest trading session, Sea Limited Sponsored ADR (SE) closed at $43.95, marking a +1.92% move from the previous day.
Sea Limited (NYSE: SE) surged almost 20% higher in recent trading sessions following some news out of Indonesia. This hurts TikTok Shop, which competed directly with Sea Limited's Shopee platform. Additionally, Sea Limited lost almost 90% of its value after the stock experienced a massive surge in 2020 and 2021.