SE - Billionaire Chase Coleman Just Made a Likely Once-in-a-Generation Bet on This Stock. Time to Buy?
2024-06-23 05:05:00 ET
Billionaire Chase Coleman of Tiger Global Management built his reputation by making correct calls on Facebook's parent Meta Platforms and Microsoft 's LinkedIn.
More recently, he made what may be a once-in-a-generation bet on Southeast Asian conglomerate Sea Limited (NYSE: SE) after having sold most of his shares in 2022. Does that mean the troubled stock is ready for a comeback?
In retrospect, the initial optimism and past hesitation about his Sea Limited position appear understandable. When Coleman first took an interest in 2018, Sea Limited looked poised to capitalize on mobile gaming and online commerce in the populous emerging markets in Southeast Asia. The stock price rose dramatically over the next three years, particularly because pandemic-driven lockdowns increased interest in its offerings.
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Billionaire Chase Coleman Just Made a Likely Once-in-a-Generation Bet on This Stock. Time to Buy?