2024-06-27 14:56:52 ET
Summary
- Sea Limited has shown impressive revenue growth, up 23% y/y in Q1 2024, surpassing my expectations.
- With a valuation of approximately 35x forward EBITDA, I find the Sea Limited risk-reward balance less compelling than it was a year ago.
- Here's why I'm now moving to the sidelines.
Investment Thesis
Sea Limited ( SE ) is a stock that I've been recommending for a while , when few investors foresaw its potential. However, now its prospects are priced at about 35x forward EBITDA....
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Sea Limited Stock No Longer Floats My Boat, Calling It A Day (Rating Downgrade)