Down another 50%!
Seriously though, they went from growth-mode to cost-cutting-mode and switched back to growth-mode in ONE quarter. Must be chaotic af inside the company.
Gaming is dying too rapidly for the rest of the company's revenue channels to catch up. They're getting owned by MELI in latin america and are losing market share to a revitalizes lazada in SEA.
Cutting costs were the easiest part of the plan, re-adjusting to growth in this environment is the hardest. The path forward is not clear at all, hence the stock price.
Personally, not convinced they have found a clear route to success, so i'll be avoiding SE for other more obvious opportunities.
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