Why Sea Limited Stock Crashed and Burned Tuesday
Shares of Sea Limited (NYSE: SE) went down in flames on Tuesday, plunging as much as 12.9%. As of 12:07 p.m. ET today, the stock was down 12.3%.
The catalyst that sent the tech giant lower was an earnings report that fell short in a number of crucial areas.
Sea Limited generated fourth-quarter revenue of $3.2 billion, which soared 106% year over year, resulting in gross profits that surged 146%. Unfortunately, that increase in revenue did nothing to boost the bottom line. The company reported an adjusted loss per share of $0.88.
Source Fool.com
