Investors Remain Lost At Sea (Ltd.)
Speaking of wild rides, let’s talk about Singapore-based internet services company Sea Ltd. The stock experienced a meteoric rise during the pandemic but has been plummeting since, with its decline continuing today. 📉
That’s because it surprised the market with a third-quarter loss of $0.26 on $3.31 billion in revenues. While revenues were about 5% better than expectations, analysts had anticipated $0.12 per share in earnings from the company. 🙃