Why Sea Limited Stock Was Climbing Today
Shares of Sea Limited (NYSE: SE) were gaining today after the Southeast Asian gaming and e-commerce company got an analyst upgrade.
As of 11:24 a.m. ET, the stock was up 9%.
In a note this morning, JPMorgan Chase analyst Ranjan Sharma lifted his rating on Sea from neutral to outperform and forecast "swift improvement" in its profitability. He believes that concerns about its ability to monetize its business are already priced into the stock and that its losses will peak in the third-quarter earnings report, which comes out next Tuesday.
Source Fool.com
