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Sea Limited's Obsession With Alibaba Hurts Investors

TheMotleyFool 
0 0 21.08.19
Sea Limited's Obsession With Alibaba Hurts Investors
 

Shares of Sea Limited (NYSE: SE) recently tumbled after the Southeast Asian gaming and e-commerce platform posted mixed second-quarter numbers. Its total revenues rose 137% annually to $436.2 million, but its net loss widened from $250.8 million to $280.1 million.

Excluding stock-based compensation and changes to the fair value of its convertible notes, its net loss still widened from $198.7 million to $215.1 million. Most of those losses can be attributed to Sea's e-commerce platform, Shopee, and its payment platform AirPay.

Shopee competes directly against Alibaba's (NYSE: BABA) Lazada across Southeast Asia, while AirPay competes against Alibaba-backed Alipay. This is a David-vs.-Goliath situation, but it's doubtful that Sea can land a fatal shot between Alibaba's eyes.

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Source Fool.com

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