Why Sea Limited Stock Slumped Again Today
Sea Limited's (NYSE: SE) stock price slide is accelerating today. On Tuesday, shares of the Singapore-based e-commerce, payments, and online gaming company slid more than 3% after the company reported better-than-expected sales for the third quarter but a huge earnings miss. Today, that share slide is turning into an avalanche, with Sea Limited stock down another 10% as of 10:15 a.m. EST.
Image source: Getty Images.
What caused today's sell-off? It's not immediately obvious, because while one investment bank, Citigroup, did lower its price target on Sea stock, a second bank, UBS, raised its target. What's more, the new targets of $416 and $380, respectively, are both well above where Sea shares sit today.
Source Fool.com
