Why Sea Limited Stock Blasted Higher Tuesday
Shares of Sea Limited (NYSE: SE) charged higher on Tuesday, surging as much as 9.7%. As of 1:40 p.m. ET, the stock was still up 9.5%.
The catalyst that sent the tech giant higher was some positive commentary from a Wall Street analyst.
Sea Limited announced yesterday that Shopee, its e-commerce arm, would cease operations in India. Morgan Stanley (NYSE: MS) analyst Mark Goodridge has weighed in on the move, viewing the decision as "a clear positive." In fact, he maintained his overweight (buy) rating and $220 price target on the stock.
Source Fool.com
