Sea Limited Just Pulled Off a Minor Miracle: Time to Buy?
Southeast Asia's video game, e-commerce, and digital finance platform Sea Limited (NYSE: SE) was perhaps the poster child for the pandemic. With the underpenetration of e-commerce and digitization in the region heading into the pandemic, Sea's growth absolutely exploded in 2020 and 2021, sending shares as high as $372 in late 2021.
Yet a violent reversal of pandemic trends and high inflation decimated pandemic winners, and Sea's stock plummeted almost 90% to a low of $40.66 last year.
In response to the changing landscape, Sea's management also reversed strategies, from a focus on top-line growth to an extreme focus on profitability. On the company's recent fourth-quarter release, that change of strategy yielded remarkable results -- a highly encouraging development for shareholders.
Source Fool.com
