Sea Limited Stock Rose More than 500% in 2020. Here's Why.
Last year was a disaster for much of the corporate world, in large part due to the adverse economic effects of COVID-19. But there's also no doubt the pandemic helped the gaming, fintech, and e-commerce sectors outperform.
Forced to stay at home, people bought more goods online and spent more time playing games, leading to strong revenue growth for industry e-commerce bellwethers like Amazon.com and Tencent Holdings. More businesses shifted to online sales models and the trend toward cashless payments accelerated, benefiting payments companies like Square. The quickened pace of digital transformation made these stocks big winners, with the stock prices for Square, Tencent, and Amazon rising 250%, 47%, and 74%, respectively, in 2020.
Their strong returns, however, trailed the returns posted by Sea Limited (NYSE: SE). Riding the bullish waves for all three industries -- gaming, e-commerce, and fintech -- Sea Limited's stock price is up 508% from its 2020 lows.
Source Fool.com
