As a leader in emerging-market e-commerce, digital payments, and mobile games, Singapore-based Sea Limited (NYSE: SE) might have had the ideal businesses model for a global pandemic -- and the least-ideal model for the post-pandemic world.

No wonder the stock was a 10-bagger from its early pandemic low to its 2021 high. But likewise, no wonder that with its "stay at home" businesses slowing down, the stock has retreated by nearly 90% from that peak. The stock now sits practically where it was on the eve of the pandemic. That said, there are indications Sea could be getting ready for its next run higher.

If you look at Sea Limited's stock price in relation to both its revenue and operating earnings, you'd be hard-pressed to understand how the changes in the latter justified the plunge in the former. After all, revenue has continued to grow, even if that growth has slowed markedly from the more intense periods of the pandemic.

Continue reading

Source Fool.com