Sea Limited (NYSE: SE) minted a lot of millionaires in the first four years after its initial public offering (IPO) in October 2017. The Singapore-based e-commerce and gaming company went public at $15, and its shares soared to an all-time high of nearly $367 on Oct. 19, 2021. A $50,000 investment in its IPO would have blossomed into $1.2 million.

However, Sea's stock now trades at about $58 -- so that investment would have shriveled to roughly $193,000. That's still a near-four bagger gain in less than seven years, but the company lost its luster as its sales growth slowed down, it racked up steep losses, and rising interest rates popped its bubbly valuations.

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Source Fool.com