Is It Too Late to Get In On This Millionaire-Maker Stock?
The year 2020 was a pivotal one for Sea Limited (NYSE: SE). The stock flew under most investors' radar after its late 2017 U.S. IPO, but e-commerce demand sent the company's Shopee app into the stratosphere during the pandemic. As a result, with just weeks left in 2020, Sea Limited shares are up nearly 400% on the year -- valuing the company at a market cap of nearly $100 billion.
Sea has made early investors a lot of money, but it's far from too late to climb aboard this millionaire-maker stock if an investor is looking at the ultimate potential at least a few years down the road.
Total global retail purchases are expected to clock in at more than $23 trillion this year and exceed some $26 trillion in 2022 by some estimates as effects of COVID-19 ease. That is a staggering dollar figure to comprehend, and it explains why e-commerce stocks are flying so high this year. Even after over a decade-plus of rapid expansion, digital retail is still a minority share of consumer spending in even the most technologically advanced economies. In emerging markets like Southeast Asia, e-commerce is a single-digit percentage tally of the total. Suffice it to say the opportunity is massive.
Source Fool.com