Caixin
Mar 02, 2022 03:52 PM
TECH

Singapore-Based Sea’s Market Decline Hits $132 Billion as Stock Tumbles Again

Singapore-based Sea Ltd. expects e-commerce sales, its main source of revenue, to rise to $8.9 billion to $9.1 billion in 2022 from $5.1 billion in 2021. Photo: Bloomberg
Singapore-based Sea Ltd. expects e-commerce sales, its main source of revenue, to rise to $8.9 billion to $9.1 billion in 2022 from $5.1 billion in 2021. Photo: Bloomberg

(Bloomberg) — Sea Ltd., once the hottest stock in the world, has lost more than $130 billion in market value from its peak last year after a disappointing earnings report that added to its woes.

The Singapore-based company gave a muted forecast for its digital entertainment unit and its shares fell 13% in U.S. trading. That cut $11 billion from its market valuation, pushing its total decline to $132 billion from its high in October.

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