Why Sea Limited Stock Went Down in Flames on Monday
Shares of Sea Limited (NYSE: SE) crashed and burned on Monday, plunging as much as 19.2%. As of 10:40 a.m. ET, the stock was down 18.8%.
The catalyst that sent the tech giant careening lower was a report that the world's second most populous country has banned the company's most successful mobile game.
Free Fire, Sea Limited's most popular video game title, was included in a list of apps that have been banned by India, according to a report by Bloomberg citing "people with knowledge of the matter." India's Ministry of Electronics and Information Technology has forbidden a total of 54 apps that it says originated in China, citing security concerns.
Source Fool.com