Why Sea Limited Stock Skyrocketed 76% in the First Half of 2024
Shares of Asian business Sea Limited (NYSE: SE) skyrocketed 76.3% in the first half of 2024, according to data provided by S&P Global Market Intelligence. The stock has been more heavily influenced by investor sentiment than business results, as I'll explain.
Consider that the S&P 500 was up 14.5% in the first half of the year, which is a spectacular six-month return for this large index. In short, there's a bullish breeze in the air, providing a nice tailwind to the sails of Sea stock.
Sentiment regarding the competitive landscape for Sea was also a huge driver of the stock during the first six months of 2024. The company has three different business segments. But its biggest and (unfortunately) least profitable is its e-commerce business, which has no shortage of competition from large players, including TikTok.
Source Fool.com
