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SE

Sea Limited

$12.77

0.25 (2.00%)

10:08
01/11/19
01/11
10:08
01/11/19
10:08

Sea Limited jumps after Kerrisdale lays out case for 175% upside

Shares of Sea Limited (SE) are moving higher after Kerrisdale Capital Management laid out its case for a much higher stock price. In slides for MOI Global's Best Ideas 2019 event, Kerrisdale Chief Investment Officer Sahm Adrangi says the market underappreciates the "massive opportunity" of Sea's Shopee unit. His firm thinks Shopee could be worth $10B alone given its "significant monetization opportunity." A $10B valuation for Shopee would imply Sea Limited shares are worth at least $33, or 175% above today's levels, says Kerrisdale. The firm calls Sea Limited "extremely undervalued." Shares of Sea, which operates three platforms across digital entertainment, e-commerce, and digital financial services, known as Garena, Shopee, and AirPay, respectively, are up 14c to $12.71 in morning trading. Reference Link

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