Why Sea Limited Stock Was Climbing Today

·2-min read
Why Sea Limited Stock Was Climbing Today

Shares of Sea Limited (NYSE: SE) were moving higher today after the Southeast Asian e-commerce and digital gaming company reported first-quarter earnings this morning. The stock actually opened up lower initially as Sea missed analyst estimates, but investors pounced on the sell-off, bidding the stock higher on what was mostly a strong report. Sea's digital entertainment division, known as Garena, posted 117% growth to $1.1 billion, while e-commerce sales continued to skyrocket with sales up 250.4% to $922.3 million, and strong growth in its marketplace and in direct sales.

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