SE - Sea Limited: Still In 'Disbelief'
2024-03-06 15:54:44 ET
Summary
- Sea Limited released strong Q4 results and 2024 outlook.
- Momentum is building — Growth is reaccelerating and profitability is improving.
- Sentiment is improving — but Mr. Market is still in 'disbelief'.
- Despite the recent rally, shares are still severely undervalued.
Introduction
Sea Limited ( SE ) is a tech conglomerate with a substantial presence in Southeast Asia. The company operates three core businesses, namely: 1) Garena, one of the largest game developers in the world, 2) Shopee, an e-commerce powerhouse, and 3) SeaMoney, a fast-growing fintech platform.
In late December, I wrote an article on Sea , expressing my contrarian stance on the company following the stock's 90% decline from $370 to $40.
At $40 a share, the market showed no love for Sea.
Now, after rallying more than 30%+, some investors are beginning to show some affection for the stock....
Sea Limited: Still In 'Disbelief'