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Why Sea Limited Stock Sank Today
Singapore-based e-commerce, payments, and online-gaming company Sea Limited (NYSE: SE) dropped 3.5% through 2:45 p.m. EST Tuesday afternoon after reporting mixed results for its fiscal Q3 2021. Analysts had forecast Sea would lose $0.65 per share on less than $2.5 billion in sales for the quarter. As it turned out, Sea booked sales of $2.7 billion — but lost $0.84 per share in the process.