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Hi readers,
Sea Group is one of the most popular stocks in Southeast Asia, and it’s definitely at the top of our watchlist at Tech in Asia.
The internet firm enjoyed a massive bull run during the pandemic. At its peak in November 2021, Sea’s market value surpassed US$200 billion, making it the first Southeast Asian stock in history to break into the exclusive ranks of the world’s mega-cap companies.
Since then, however, the tide has turned: Sea has wiped out over US$130 billion from its market cap. The global tech sell-off only tells part of the story as investors have also raised company-specific concerns.
Sea recently saw its biggest one-day market drop, shedding over US$16 billion of value after India abruptly banned its most popular mobile gaming title, Free Fire.
The tech giant also lost a further US$10.4 billion in market value after cutting its booking guidance for its digital entertainment unit Garena for the first time. Investors are now worried that India could potentially extend that ban to include Shopee, Sea’s ecommerce arm.
While CEO Forrest Li reassured shareholders at the company’s annual general meeting that Sea had a grip on the situation, markets have yet to buy into those convictions.
With all that’s happening at Sea, we’ve created nine charts – updated every quarter – that can get you up to speed with the company’s growth prospects.
— Deepti Sri, journalist at Tech in Asia
Top stories this week
1️. Sea Group’s financial health in 9 charts
We put our finger on the pulse of Sea Group, Southeast Asia’s largest internet company.
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3. Why Alibaba should spin off Lazada
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