Why Sea Limited Stock Is Soaring Today
Shares of Sea Limited (NYSE: SE) were soaring 8.6% on Friday morning, a day after Reuters reported the Singapore government asked India if the tech company's online game Free Fire was unintentionally included in the country's crackdown on Chinese-owned technology. Sea Limited calls Singapore home, not China.
Free Fire is the biggest title in Sea Limited's Garena video game segment and was the most-downloaded battle royale mobile game in 2021, according to app tracker App Annie. Concerns over Beijing collecting data from Chinese tech companies led India to ban dozens of popular apps and platforms, including TikTok and Free Fire.
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Source Fool.com
