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Sea Shares Rose Nearly 9% in Premarket Trading

Tiger Newspress2022-03-16

Sea shares rose nearly 9% in premarket trading.Sea Limited is making some early-stage gaming fund-raising news today, as its Garena unit is leading a $4.5 million seed round for Revel Games, a recently founded Turkish start-up focused on puzzles.

Along with Garena, Sandbox Agency co-founders Sebastien Borget and Arthur Madrid are invested in the round, Bloomberg reports.

Revel Games was founded in October.

Elsewhere, Bloomberg notes billionaire Sea CEO Forrest Li has written to employees to address the dizzying drop in the company's stock -down 59.5%so far in 2022, and down nearly 73%over the past six months. (See a chart of SE performance vs. broader communications and videogame trackers here.)

“This drop is painful, and you might be feeling frustrated, disheartened, or worried about Sea’s future,” he says in the mail seen by Bloomberg. “Do not fear: we are in a strong position internally, and we are clear on our next steps. This is short-term pain that we have to endure to truly maximize our long-term potential.”

That marks some unusual new openness from the company that wasn't really demanded as it rallied 2,300% from 2017 to 2021, Bloomberg notes; now investors and employees are seeking more information.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment19

  • SilentWarrio
    ·2022-03-17
    Happy with Sea performance lately. Hope it will continue her upward trend.
    Reply
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  • JQ Black
    ·2022-03-17
    Like
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  • babyroxy
    ·2022-03-17
    Keep it up 💪🏻💪🏻
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  • Rattything
    ·2022-03-17
    Finally a light in the sea
    Reply
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  • JAMESKOHL
    ·2022-03-16
    I bought SEA based on its strong financial reports.
    Reply
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  • tradingnoob
    ·2022-03-16
    Seems like the market has bottomed. Even Baba increase 15%
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  • 来人
    ·2022-03-16
    Nice
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  • Deonc
    ·2022-03-16
    A great leader is honest; they encourage their teams to be transparent and speak with candor. Looking forward for good next earning. Please like and comment. Thanks  
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  • kukumolu
    ·2022-03-16
    Let's gooooo
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  • pkyon
    ·2022-03-16
    Good
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  • jc0110
    ·2022-03-16
    Pls like
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  • CIG
    ·2022-03-16
    Free to fire now?
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  • Kinco
    ·2022-03-16
    Thanks
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  • Kanyon
    ·2022-03-16
    Ok
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  • SmartHunter
    ·2022-03-16
    GG SEA PLS GO UP. 
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  • Ray19
    ·2022-03-16
    Comment
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  • Dragonbody
    ·2022-03-16
    [Happy] 
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  • Chris_CHRIS
    ·2022-03-16
    Pls like thanks
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  • MelChen
    ·2022-03-16
    O
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