In today’s briefing:
- Sea Ltd: Shopee’s Exit from India Could Be the Final Nail in the Coffin
Sea Ltd: Shopee’s Exit from India Could Be the Final Nail in the Coffin
- Shopee, the e-commerce arm of Singapore-based Sea Ltd (SE US), announced today that they are shutting down operations in India due to global market uncertainties.
- We feel this could turn even the most hopeful followers of Sea Ltd as they must be running out of angles to justify their bullish calls on the company.
- We think, Sea Ltd shares could easily fall below the pre-COVID level once it starts losing these ardent followers.
Before it’s here, it’s on Smartkarma
