Why Sea Limited Stock Dropped Before Climbing on Friday

After initially falling, shares of Sea Limited (NYSE: SE) climbed higher on Friday, increasing as much as 4.5%. As of 2:49 p.m. ET, the stock was still up 4.2%.

The e-commerce, gaming, and payments platform was on the receiving end of a downgrade by a Wall Street analyst, but the news was better than it first appeared.

Goldman Sachs analyst Miang Chuen Koh removed Sea Limited from the firm's conviction buy list, but maintained a buy rating on stock, while simultaneously lowering the price target to $300, down from $460.

Source Fool.com