Why Sea Stock Was Up 12.5% in January
Shares of Sea Limited (NYSE: SE) ran up over 12% in January, according to data provided by S&P Global Market Intelligence. This outperformance is nothing new: The stock has tripled in value over the last year.
Sea is a dominant internet portal across much of Asia. The company started as a gaming portal (its battle game Free Fire is one of the top mobile games in the world). Then Sea expanded into internet commerce, creating websites in multiple countries where third-party sellers could offer goods. And then it expanded yet again, offering payments and money transfer capabilities to its customer base.
In January, the company applied for a digital banking license in Singapore. If the license is granted, this will open up yet another massive market, one estimated to reach $110 billion by 2025.
Source Fool.com
