From Breakingviews - Sea’s rising tide gets a harsh reality check
A person stands in front of a signage of Southeast Asian e-commerce and gaming group Sea Ltd's, at their office in Singapore March 5, 2021.
Edgar Su/File Photowas sailing strong. The $41 billion Southeast Asian internet giant retreated from overseas markets, slashed marketing spend, and shed thousands of jobs. Still, that wasn’t enough for the company to meet earnings estimates on Tuesday. A subsequent 18% drop in its U.S. shares is a reality check for founder and boss Forrest Li who is trying to shore up faith that the company’s newfound profitable status is sustainable.
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