Sea rebound 6% in morning trading after plunging 22% on Tuesday.
$Sea Ltd.(SE)$ swung back to a loss in the third quarter, hit by flagging consumption and intensifying competition from Alibaba and TikTok on its home turf.
The stock fell 22.07% on Tuesday after the company posted a net loss of $149 million, compared with a profit of $322 million the previous quarter. Southeast Asia’s largest internet firm reported a 4.9% rise in sales from a year earlier to $3.3 billion, versus the average estimate of $3.2 billion.
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