Why Sea Limited Stock Plunged Again Today
Capping one of the worst weeks of its life as a stock, Sea Limited's (NYSE: SE) share price took a more than 11% hit on Friday. The latest blow was a recommendation downgrade and a deep price target cut from an analyst at a high-profile investment bank.
Joining a clutch of fellow prognosticators trimming their expectations for Sea Limited stock was Ranjan Sharma, of JPMorgan Chase unit J.P. Morgan. On Friday, Sharma eviscerated his price target, reducing it to $105 per share from the previous $250. Consequently, he now views the company as a neutral; before this his recommendation was overweight (i.e., buy).
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Source Fool.com
