Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

Tencent’s Disposal of Sea Shares: A Danger Sign

Sea Ltd in Free Fall Following the Removal of Free Fire from The App Store & Google Play

Shopee’s Weaknesses Exposed as Free Fire Lose Steam

Sea Ltd Follow-On Offering: Asking Permission From Investors to Burn $4.0bn Per Year

Free Fire Firing on All Cylinders But Shopee Is Deprived of Marginal Profitability Gains

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<ul>
<li>Singapore-Based Internet company, <a href="https://www.smartkarma.com/entities/sea-ltd" target="_blank" data-smartkarma-citation="entities:8509:1" rel="noopener">Sea Ltd (SE US)</a>’s share price has declined more than 30% since releasing its 3Q21 results in the third week of November.</li>
<li>This is the first time in Sea Ltd’s history that its share price has broken out to the downside by more than 2.0x the trend channel.</li>
<li>With short positions still on the rise amidst declining gaming momentum, we fear that shares could potentially fall below the March low, resulting in a further downside of over 20%.</li>
</ul>


Singapore-Based Internet company, Sea Ltd (SE US)’s share price has declined more than 30% since releasing its 3Q21 results in the third week of November.
This is the first time in Sea Ltd’s history that its share price has broken out to the downside by more than 2.0x the trend channel.
With short positions still on the rise amidst declining gaming momentum, we fear that shares could potentially fall below the March low, resulting in a further downside of over 20%.


Sea Ltd: Share Price Breaks Down as Free Fire Misfires