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