Why Sea Limited Shares Rose 34% Last Month

Shares of Sea Limited (NYSE: SE) gained 34.4% in June 2020, according to data from S&P Global Market Intelligence. The Singapore-based e-commerce, payments, and online gaming specialist didn't have much news to share last month, but the stock continued a dramatic climb that tripled Sea's stock price in six months. You could call June's surge a logical continuation of Sea's 44% rise in May.

The Shopee online shopping storefront posted 74% year-over-year revenue growth in May's first-quarter report, while the Garena-branded digital entertainment group saw 30% higher sales. Sea's dual focus on e-commerce services and online games is a perfect recipe for success under the COVID-19 lockdowns that continue to paralyze the global economy in many ways.

Image source: Sea Limited.

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Source Fool.com