Why Sea Limited Stock Fell Today
Shares of Sea Limited (NYSE: SE) fell today despite the fact that an analyst raised his price target for its stock. The company -- which is involved in everything from digital entertainment, e-commerce, and financial services -- was likely sliding today as part of a major sell-off in the broader market.
Sea Limited's stock was down by 2.95% at the end of the trading day.
An analyst with Bank of America's BofA Securities, Sachin Salgaonkar, raised his price target for Sea Limited's stock from $375 to $380 today, maintaining his buy rating. Generally, the share price of a company will jump when an analyst raises the price target, but there are three good reasons why that didn't happen today.
Source Fool.com
