Shares of Sea Limited (SE) fell sharply on Tuesday morning despite the company reporting significantly higher fourth-quarter earnings and revenue.
The stock is currently trading at $85.11, down $20.10 or 19.10%, after closing the previous session at $105.21. It opened at $80.40 and has traded between $77.05 and $199.30 over the past 52 weeks.
Sea reported fourth-quarter net income of $397.09 million, or $0.63 per share, compared with $237.30 million, or $0.39 per share, a year earlier. Revenue climbed 38.4% to $6.851 billion, up from $4.950 billion last year.
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