Why Sea Limited Stock Is Soaring Today
Shares of Sea Limited (NYSE: SE), a digital entertainment and e-commerce company, spiked today as the broader market rose and as shares of some Chinese stocks soared. Sea Limited is based in Singapore, but the Chinese tech giant Tencent Holdings owns an 18.7% stake in the company.
Sea limited's stock was up by 12.1% as of 1:16 p.m. ET.
The broader market was making gains for its second straight day today, with the S&P 500 up 1.6% as of this writing. While positive investor sentiment in the market may have helped to lift Sea's share price a bit today, the biggest factor likely comes from Tencent's share price spike.
Source Fool.com
