Why Sea Limited Stock Was Falling This Week
Shares of Sea Limited (NYSE: SE) are down 24% for the week as of 11:39 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence.
The e-commerce leader reported earnings results on Tuesday, Aug. 16 that left investors looking for more growth. Perhaps more disappointing for investors was the company's decision to suspend its forward guidance considering weakening economic conditions.
Sea was a huge beneficiary of the stay-at-home environment during the pandemic, but like Amazon, Etsy, and other leading e-commerce stocks, Sea has suffered from decelerating revenue growth as consumers return to in-store shopping. After soaring to a high of $372 in 2021, the stock has collapsed, not only due to lower revenue growth, but also due to the company's escalating losses.
Source Fool.com
