Is Sea Limited Stock a Buy After It Crashed and Burned on Monday?
Shares of Sea Limited (NYSE: SE) had a tough day on Monday. After cratering as much as 19.7%, the stock ended the trading day down 18.4%.
Investors learned today that India had plans to ban the company's marquee mobile game -- Free Fire -- along with a number of other apps said to have ties to China, citing security concerns. Given the situation and the tremendous haircut it was given today, is Sea Limited stock a buy?
It's understandable that investors might have something of a new-jerk reaction to todays news. Over the past several years, the company has been introducing Free Fire to gamers in a number of new regions, including India and Latin America. Once the game has a foothold, Sea Limited introduces Shopee -- its e-commerce platform -- and Sea Money, its digital payments solution, employing something of a land-and-expand strategy.
Source Fool.com
